Page:United States Statutes at Large Volume 124.djvu/1810

 124 STAT. 1784 PUBLIC LAW 111–203—JULY 21, 2010 ‘‘(II) include a certification that, under penalty of law, the compliance report is accurate and com- plete. ‘‘(7) CORE PRINCIPLES APPLICABLE TO SECURITY-BASED SWAP DATA REPOSITORIES.— ‘‘(A) ANTITRUST CONSIDERATIONS.—Unless necessary or appropriate to achieve the purposes of this title, the swap data repository shall not— ‘‘(i) adopt any rule or take any action that results in any unreasonable restraint of trade; or ‘‘(ii) impose any material anticompetitive burden on the trading, clearing, or reporting of transactions. ‘‘(B) GOVERNANCE ARRANGEMENTS.—Each security- based swap data repository shall establish governance arrangements that are transparent— ‘‘(i) to fulfill public interest requirements; and ‘‘(ii) to support the objectives of the Federal Government, owners, and participants. ‘‘(C) CONFLICTS OF INTEREST.—Each security-based swap data repository shall— ‘‘(i) establish and enforce rules to minimize con- flicts of interest in the decision-making process of the security-based swap data repository; and ‘‘(ii) establish a process for resolving any conflicts of interest described in clause (i). ‘‘(D) ADDITIONAL DUTIES DEVELOPED BY COMMISSION.— ‘‘(i) IN GENERAL.—The Commission may develop 1 or more additional duties applicable to security-based swap data repositories. ‘‘(ii) CONSIDERATION OF EVOLVING STANDARDS.—In developing additional duties under subparagraph (A), the Commission may take into consideration any evolving standard of the United States or the inter- national community. ‘‘(iii) ADDITIONAL DUTIES FOR COMMISSION DES- IGNEES.—The Commission shall establish additional duties for any registrant described in section 13(m)(2)(C) in order to minimize conflicts of interest, protect data, ensure compliance, and guarantee the safety and security of the security-based swap data repository. ‘‘(8) REQUIRED REGISTRATION FOR SECURITY-BASED SWAP DATA REPOSITORIES.—Any person that is required to be reg- istered as a security-based swap data repository under this subsection shall register with the Commission, regardless of whether that person is also licensed under the Commodity Exchange Act as a swap data repository. ‘‘(9) RULES.—The Commission shall adopt rules governing persons that are registered under this subsection.’’. SEC. 764. REGISTRATION AND REGULATION OF SECURITY-BASED SWAP DEALERS AND MAJOR SECURITY-BASED SWAP PARTICI - PANTS. (a) IN GENERAL.—The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended by inserting after section 15E (15 U.S.C. 78o–7) the following: Process. Regulations. Certification.