Financial Watchdog Support Act

Bill: 116-hr-4247
Sponsor: full_name: Rep. Harder, Josh [D-CA-10]
Introduced: 2019-09-09
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Financial services and investments

Securities
Latest action: action_date: 2019-09-18
text: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Summaries:
action_date: 2019-09-09
action_desc: Introduced in House
text: <p><b>Financial Watchdog Support Act</b></p> <p>This bill eliminates the requirement that a swap data repository must confirm the accuracy of submitted data with both parties participating in the swap.</p> </p>

tv_txt: I 116th CONGRESS 1st Session H. R. 4247 IN THE HOUSE OF REPRESENTATIVES September 9, 2019 Mr. Harder of California introduced the following bill; which was referred to the Committee on Agriculture A BILL To amend the Commodity Exchange Act to eliminate the double-sided confirmation requirement for swap data repositories.

1. Short title This Act may be cited as the Financial Watchdog Support Act . 2. Elimination of the double-sided confirmation requirement for swap data repositories (a) In general Section 21(c) of the Commodity Exchange Act ( 7 U.S.C. 24a(c) ) is amended by striking paragraph (2) and redesignating paragraphs (3) through (8) as paragraphs (2) through (7), respectively. (b) Conforming amendment Section 21(d) of such Act ( 7 U.S.C. 24a(d) ) is amended by striking (c)(7) and inserting (c)(6) .