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7 U.S.C. § 6r — Reporting and recordkeeping for uncleared swaps
Federal law — U.S. Code and appendices · legal_authorities
**(a) Required reporting of swaps not accepted by any derivatives clearing organization**
(1) **In general** — Each swap that is not accepted for clearing by any derivatives clearing organization shall be reported to—
(A) a swap data repository described in [section 24a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section24a&num=0&edition=prelim); or
(B) in the case in which there is no swap data repository that would accept the swap, to the Commission pursuant to this section within such time period as the Commission may by rule or regulation prescribe.
(2) **Transition rule for preenactment swaps**
(A) *Swaps entered into before July 21, 2010* — Each swap entered into before July 21, 2010, the terms of which have not expired as of July 21, 2010, shall be reported to a registered swap data repository or the Commission by a date that is not later than—
(i) 30 days after issuance of the interim final rule; or
(ii) such other period as the Commission determines to be appropriate.
(B) *Commission rulemaking* — The Commission shall promulgate an interim final rule within 90 days of July 21, 2010, providing for the reporting of each swap entered into before July 21, 2010.
(C) *Effective date* — The reporting provisions described in this section shall be effective upon the enactment of this section.
(3) **Reporting obligations**
(A) *Swaps in which only 1 counterparty is a swap dealer or major swap participant* — With respect to a swap in which only 1 counterparty is a swap dealer or major swap participant, the swap dealer or major swap participant shall report the swap as required under paragraphs (1) and (2).
(B) *Swaps in which 1 counterparty is a swap dealer and the other a major swap participant* — W
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Source file: Laws/federal/codes/united-states-code/title-7/section-6r-reporting-and-recordkeeping-for-uncleared-swaps--409a08c09c.md
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Source location: Title 7, Chapter 1, § 6r; chapter-001-commodity-exchanges.md
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**(a) Required reporting of swaps not accepted by any derivatives clearing organization**
(1) **In general** — Each swap that is not accepted for clearing by any derivatives clearing organization shall be reported to—
(A) a swap data repository described in [section 24a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section24a&num=0&edition=prelim); or
(B) in the case in which there is no swap data repository that would accept the swap, to the Commission pursuant to this section within such time period as the Commission may by rule or regulation prescribe.
(2) **Transition rule for preenactment swaps**
(A) *Swaps entered into before July 21, 2010* — Each swap entered into before July 21, 2010, the terms of which have not expired as of July 21, 2010, shall be reported to a registered swap data repository or the Commission by a date that is not later than—
(i) 30 days after issuance of the interim final rule; or
(ii) such other period as the Commission determines to be appropriate.
(B) *Commission rulemaking* — The Commission shall promulgate an interim final rule within 90 days of July 21, 2010, providing for the reporting of each swap entered into before July 21, 2010.
(C) *Effective date* — The reporting provisions described in this section shall be effective upon the enactment of this section.
(3) **Reporting obligations**
(A) *Swaps in which only 1 counterparty is a swap dealer or major swap participant* — With respect to a swap in which only 1 counterparty is a swap dealer or major swap participant, the swap dealer or major swap participant shall report the swap as required under paragraphs (1) and (2).
(B) *Swaps in which 1 counterparty is a swap dealer and the other a major swap participant* — With respect to a swap in which 1 counterparty is a swap dealer and the other a major swap participant, the swap dealer shall report the swap as required under paragraphs (1) and (2).
(C) *Other swaps* — With respect to any other swap not described in subparagraph (A) or (B), the counterparties to the swap shall select a counterparty to report the swap as required under paragraphs (1) and (2).
**(b) Duties of certain individuals** Any individual or entity that enters into a swap shall meet each requirement described in subsection (c) if the individual or entity did not—
(1) clear the swap in accordance with [section 2(h)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2/h/1&num=0&edition=prelim); or
(2) have the data regarding the swap accepted by a swap data repository in accordance with rules (including timeframes) adopted by the Commission under [section 24a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section24a&num=0&edition=prelim).
**(c) Requirements** An individual or entity described in subsection (b) shall—
(1) upon written request from the Commission, provide reports regarding the swaps held by the individual or entity to the Commission in such form and in such manner as the Commission may request; and
(2) maintain books and records pertaining to the swaps held by the individual or entity in such form, in such manner, and for such period as the Commission may require, which shall be open to inspection by—
(A) any representative of the Commission;
(B) an appropriate prudential regulator;
(C) the Securities and Exchange Commission;
(D) the Financial Stability Oversight Council; and
(E) the Department of Justice.
**(d) Identical data** In prescribing rules under this section, the Commission shall require individuals and entities described in subsection (b) to submit to the Commission a report that contains data that is not less comprehensive than the data required to be collected by swap data repositories under [section 24a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section24a&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter:
(1) **Alternative trading system** — The term “alternative trading system” means an organization, association, or group of persons that—
(A) is registered as a broker or dealer pursuant to section 15(b) of the Securities Exchange Act of 1934 [[15 U.S.C. 78](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78&num=0&edition=prelim)o(b)] (except paragraph (11) thereof);
(B) performs the functions commonly performed by an exchange (as defined in section 3(a)(1) of the Securities Exchange Act of 1934 [[15 U.S.C. 78c(a)(1)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/1&num=0&edition=prelim)]);
(C) does not—
(i) set rules governing the conduct of subscribers other than the conduct of such subscribers’ trading on the alternative trading system; or
(ii) discipline subscribers other than by exclusion from trading; and
(D) is exempt from the definition of the term “exchange” under such section 3(a)(1) [[15 U.S.C. 78c(a)(1)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/1&num=0&edition=prelim)] by rule or regulation of the Securities and Exchange Commission on terms that require compliance with regulations of its trading functions.
(2) **Appropriate Federal banking agency** — The term “appropriate Federal banking agency”—
(A) has the meaning given the term in [section 1813 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim);
(B) means the Board in the case of a noninsured State bank; and
(C) is the Farm Credit Administration for farm credit system institutions.
(3) **Associated person of a security-based swap dealer or major security-based swap participant** — T
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Registration requirement**
(1) **Requirement; authority of derivatives clearing organization**
(A) *In general* — 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 swap data repository.
(B) *Registration of derivatives clearing organizations* — A derivatives clearing organization may register as a swap data repository.
(2) **Inspection and examination** — Each registered 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 registration, as a swap data repository, the swap data repository shall comply with—
(i) the requirements and core principles described in this section; and
(ii) any requirement that the Commission may impose by rule or regulation pursuant to [section 12a(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section12a/5&num=0&edition=prelim).
(B) *Reasonable discretion of swap data repository* — Unless otherwise determined by the Commission by rule or regulation, a swap data repository described in subparagraph (A) shall have reasonable discretion in establishing the manner in which the swap data repository complies with the core principles described in this section.
**(b) Standard setting**
(1) **Data identification**
(A) *In general* — In accordance with subparagraph (B), the Commission shall prescribe standards that specify the data elements for each swap that shall be collected and maintained by each registered swap data repository.
(B) *Requirement* — In carrying out subparagr
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Federal law — U.S. Code and appendices · legal_authorities
Page 75
TITLE 7—AGRICULTURE
§ 6s
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2010 AMENDMENT
Amendment by Pub. L. 111–203 effective on the later
of 360 days after July 21, 2010, or, to the extent a provi-
sion of subtitle A (§§ 711–754) of title VII of Pub. L.
111–203 requires a rulemaking, not less than 60 days
after publication of the final rule or regulation imple-
menting such provision of subtitle A, see section 754 of
Pub. L. 111–203, set out as a note under section 1a of
this title.
§ 6r. Reporting and recordkeeping for uncleared
swaps
(a) Required reporting of swaps not accepted by
any derivatives clearing organization
(1) In general
Each swap that is not accepted for clearing
by any derivatives clearing organization shall
be reported to—
(A) a swap data repository described in
section 24a of this title; or
(B) in the case in which there is no swap
data repository that would accept the swap,
to the Commission pursuant to this section
within such time period as the Commission
may by rule or regulation prescribe.
(2) Transition rule for preenactment swaps
(A) Swaps entered into before July 21, 2010
Each swap entered into before July 21,
2010, the terms of which have not expired as
of July 21, 2010, shall be reported to a reg-
istered swap data repository or the Commis-
sion by a date that is not later than—
(i) 30 days after issuance of the interim
final rule; or
(ii) such other period as the Commission
determines to be appropriate.
(B) Commission rulemaking
The Commission shall promulgate an in-
terim final rule within 90 days of July 21,
2010, providing for the reporting of each swap
entered into before July 21, 2010.
(C) Effective date
The reporting provisions described in this
section shall be effective upon th
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 6r
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