Page:United States Statutes at Large Volume 124.djvu/1807

 124 STAT. 1781 PUBLIC LAW 111–203—JULY 21, 2010 ‘‘(A) IN GENERAL.—In accordance with subparagraph (B), the Commission shall issue a written report on a semiannual and annual basis to make available to the public information relating to— ‘‘(i) the trading and clearing in the major security- based swap categories; and ‘‘(ii) the market participants and developments in new products. ‘‘(B) USE; CONSULTATION.—In preparing a report under subparagraph (A), the Commission shall— ‘‘(i) use information from security-based swap data repositories and clearing agencies; and ‘‘(ii) consult with the Office of the Comptroller of the Currency, the Bank for International Settle- ments, and such other regulatory bodies as may be necessary. ‘‘(C) AUTHORITY OF COMMISSION.—The Commission may, by rule, regulation, or order, delegate the public reporting responsibilities of the Commission under this paragraph in accordance with such terms and conditions as the Commission determines to be appropriate and in the public interest. ‘‘(n) SECURITY-BASED SWAP DATA REPOSITORIES.— ‘‘(1) REGISTRATION REQUIREMENT.—It shall be unlawful for any person, unless registered with the Commission, directly or indirectly, to make use of the mails or any means or instrumentality of interstate commerce to perform the functions of a security-based swap data repository. ‘‘(2) INSPECTION AND EXAMINATION.—Each registered secu- rity-based swap data repository shall be subject to inspection and examination by any representative of the Commission. ‘‘(3) COMPLIANCE WITH CORE PRINCIPLES.— ‘‘(A) IN GENERAL.—To be registered, and maintain reg- istration, as a security-based swap data repository, the security-based swap data repository shall comply with— ‘‘(i) the requirements and core principles described in this subsection; and ‘‘(ii) any requirement that the Commission may impose by rule or regulation. ‘‘(B) REASONABLE DISCRETION OF SECURITY-BASED SWAP DATA REPOSITORY.—Unless otherwise determined by the Commission, by rule or regulation, a security-based swap data repository described in subparagraph (A) shall have reasonable discretion in establishing the manner in which the security-based swap data repository complies with the core principles described in this subsection. ‘‘(4) STANDARD SETTING.— ‘‘(A) DATA IDENTIFICATION.— ‘‘(i) IN GENERAL.—In accordance with clause (ii), the Commission shall prescribe standards that specify the data elements for each security-based swap that shall be collected and maintained by each registered security-based swap data repository. ‘‘(ii) REQUIREMENT.—In carrying out clause (i), the Commission shall prescribe consistent data element standards applicable to registered entities and reporting counterparties.