Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015

Bill: 114-hr-1847
Sponsor: Rep. Crawford, Eric A. "Rick" [R-AR-1]
Introduced: 2015-04-16 in the House
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation
Civil actions and liability
Commodities markets
Commodity Futures Trading Commission
Securities
Securities and Exchange Commission (SEC)

Summary:
action_date: 2015-04-16
text: 
 
Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015

 
 Amends the Commodity Exchange Act, with respect to derivatives clearing organizations and swap data repositories, to repeal the prerequisite that, before the Commodity Futures Trading Commission (CFTC) may share information with specified regulatory agencies, such agencies must agree to indemnify the CFTC for expenses arising from litigation relating to information so provided. 
 
Amends the Securities Exchange Act of 1934 to repeal similarly the prerequisite that, before a security-based swap data repository may share information with specified regulatory entities, such entities must agree to indemnify both such repository and the Securities and Exchange Commission for expenses arising from litigation relating to information so provided. 

action_date: 2015-07-14
text: 

Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015

 
 Amends the Commodity Exchange Act, with respect to derivatives clearing organizations and swap data repositories, to repeal the prerequisite that, before the Commodity Futures Trading Commission (CFTC) may share information with specified regulatory agencies, such agencies must agree to indemnify the CFTC for expenses arising from litigation relating to information so provided.
 
Amends the Securities Exchange Act of 1934 to repeal similarly the prerequisite that, before a security-based swap data repository may share information with specified regulatory entities, such entities must agree to indemnify both such repository and the Securities and Exchange Commission (SEC) for expenses arising from litigation relating to information so provided. 
 
Amends both the CEA and the SEA to require a swap or security-based swap data repository, on a confidential basis and after notification to the CFTC or the SEC, as appropriate, to make only swap or security-based swap data (currently, all data) it has obtained available to specified regulatory authorities, including other foreign authorities in addition to foreign financial supervisors, foreign central banks, and foreign ministries.
 
Makes these amendments effective as if enacted as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21, 2010.


Legislative actions:
action_date: 2015-07-15
text: Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
action_date: 2015-07-14
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2015-07-14
text: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5145-5146)
action_date: 2015-07-14
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H5145-5146)
action_date: 2015-07-14
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 1847.
action_date: 2015-07-14
text: Considered under suspension of the rules. (consideration: CR H5145-5147)
action_date: 2015-07-14
text: Mr. Hurt (VA) moved to suspend the rules and pass the bill, as amended.
action_date: 2015-07-14
text: Placed on the Union Calendar, Calendar No. 151.
action_date: 2015-07-14
text: Committee on Agriculture discharged.
action_date: 2015-07-14
text: Committee on Agriculture discharged.
action_date: 2015-07-14
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 114-202, Part I.
action_date: 2015-07-14
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 114-202, Part I.
action_date: 2015-05-20
text: Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.
action_date: 2015-05-20
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-05-05
text: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
action_date: 2015-04-29
text: Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
action_date: 2015-04-16
text: Referred to the Committee on Agriculture, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2015-04-16
text: Referred to the Committee on Agriculture, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2015-04-16
text: Referred to the Committee on Agriculture, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2015-04-16
text: Introduced in House
action_date: 2015-04-16
text: Introduced in House