CFTC Repository Rule Won't Save Regulators From Data Leak Bills, Say European Supervisors
By Ramya Jaidev
Published August 23 2011 Risk Magazine
Regulators outside the US should have been celebrating the release of final rules on swap data repositories (SDRs) by the Commodity Futures Trading Commission (CFTC) on August 15 - the text attempts to resolve a clause in the Dodd-Frank Act that would make them liable for any costs that arise after data has been requested from a US-registered repository, including lawsuits triggered by data leaks. Unfortunately, the CFTC's fix won't do the trick, European regulators say.
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