Page:United States Statutes at Large Volume 124.djvu/1704

 124 STAT. 1678 PUBLIC LAW 111–203—JULY 21, 2010 category, type, or class of swaps agrees to an extension of the time limitation established under this subparagraph. ‘‘(C) DETERMINATION.—Upon completion of the review undertaken pursuant to subparagraph (A), the Commission may— ‘‘(i) determine, unconditionally or subject to such terms and conditions as the Commission determines to be appropriate, that the swap, or group, category, type, or class of swaps must be cleared pursuant to this subsection if it finds that such clearing is con- sistent with paragraph (2)(D); or ‘‘(ii) determine that the clearing requirement of paragraph (1) shall not apply to the swap, or group, category, type, or class of swaps. ‘‘(D) RULES.—Not later than 1 year after the date of the enactment of the Wall Street Transparency and Accountability Act of 2010, the Commission shall adopt rules for reviewing, pursuant to this paragraph, a deriva- tives clearing organization’s clearing of a swap, or a group, category, type, or class of swaps, that it has accepted for clearing. ‘‘(4) PREVENTION OF EVASION.— ‘‘(A) IN GENERAL.—The Commission shall prescribe rules under this subsection (and issue interpretations of rules prescribed under this subsection) as determined by the Commission to be necessary to prevent evasions of the mandatory clearing requirements under this Act. ‘‘(B) DUTY OF COMMISSION TO INVESTIGATE AND TAKE CERTAIN ACTIONS.—To the extent the Commission finds that a particular swap, group, category, type, or class of swaps would otherwise be subject to mandatory clearing but no derivatives clearing organization has listed the swap, group, category, type, or class of swaps for clearing, the Commission shall— ‘‘(i) investigate the relevant facts and cir- cumstances; ‘‘(ii) within 30 days issue a public report containing the results of the investigation; and ‘‘(iii) take such actions as the Commission deter- mines to be necessary and in the public interest, which may include requiring the retaining of adequate margin or capital by parties to the swap, group, cat- egory, type, or class of swaps. ‘‘(C) EFFECT ON AUTHORITY.—Nothing in this para- graph— ‘‘(i) authorizes the Commission to adopt rules requiring a derivatives clearing organization to list for clearing a swap, group, category, type, or class of swaps if the clearing of the swap, group, category, type, or class of swaps would threaten the financial integrity of the derivatives clearing organization; and ‘‘(ii) affects the authority of the Commission to enforce the open access provisions of paragraph (1)(B) with respect to a swap, group, category, type, or class of swaps that is listed for clearing by a derivatives clearing organization. Deadline. Public information. Reports. Regulations. Deadline.