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Bill114th CongressFiled Apr 16, 2015Finance and Financial Sector
H.R. 1847

Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015

Bill journey · stage 2 of 5

Under committee review

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Law

What it doesSummary passed house amended (Jul 14, 2015)

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.

What just happenedJul 15, 2015

Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Who’s behind it

Rep. Crawford, Eric A. "Rick" [R-AR-1](R-AR)Sponsor
3 cosponsors2 D1 R
Read on Congress.gov
3cosponsors3committees21actions4related bills6subjects
  1. Jul 15, 2015IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

    Agriculture, Nutrition, and Forestry Committee
  2. Jul 14, 2015FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Jul 14, 2015FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5145-5146)

  4. Jul 14, 2015Floor8000

    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)

  5. Jul 14, 2015FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 1847.

  6. Jul 14, 2015FloorH30000

    Considered under suspension of the rules. (consideration: CR H5145-5147)

  7. Jul 14, 2015FloorH30300

    Mr. Hurt (VA) moved to suspend the rules and pass the bill, as amended.

  8. Jul 14, 2015CalendarsH12410

    Placed on the Union Calendar, Calendar No. 151.

  9. Jul 14, 2015DischargeH12300

    Committee on Agriculture discharged.

    Agriculture Committee
  10. Jul 14, 2015Committee5500

    Committee on Agriculture discharged.

    Agriculture Committee
  11. Jul 14, 2015CommitteeH12200

    Reported (Amended) by the Committee on Financial Services. H. Rept. 114-202, Part I.

    Financial Services Committee
  12. Jul 14, 2015Committee5000

    Reported (Amended) by the Committee on Financial Services. H. Rept. 114-202, Part I.

    Financial Services Committee
  13. May 20, 2015Committee

    Ordered to be Reported (Amended) by the Yeas and Nays: 60 - 0.

    Financial Services Committee
  14. May 20, 2015Committee

    Committee Consideration and Mark-up Session Held.

    Financial Services Committee
  15. May 5, 2015Committee

    Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

    Commodity Markets, Digital Assets, and Rural Development Subcommittee
  16. Apr 29, 2015Committee

    Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.

    Capital Markets Subcommittee
  17. Apr 16, 2015IntroReferralH11100

    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.

    Financial Services Committee
  18. Apr 16, 2015IntroReferralH11100-A

    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.

  19. Apr 16, 2015IntroReferralH11100

    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.

    Agriculture Committee
  20. Apr 16, 2015IntroReferralIntro-H

    Introduced in House

  21. Apr 16, 2015IntroReferral1000

    Introduced in House

Passed House amendedJul 14, 201536

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.

Introduced in HouseApr 16, 2015

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.

Swap Data Repository and Clearinghouse Indemnification Correction Act of 2015 — Informed