purposes of sections 18(a) and 32(a) of the Act (15 U.S.C. 78r(a) and
78ff(a)) and the rules and regulations thereunder and other applicable
provisions of the United States Code and the rules and regulations
thereunder.
    (e) If the Commission finds, on the record after notice and
opportunity for hearing, that any registered security-based swap data
repository has obtained its registration by making any false and
misleading statements with respect to any material fact or has violated
or failed to comply with any provision of the federal securities laws
and the rules and regulations thereunder, the Commission, by order, may
revoke the registration. Pending final determination of whether any
registration shall be revoked, the Commission, by order, may suspend
such registration, if such suspension appears to the Commission, after
notice and opportunity for hearing on the record, to be necessary or
appropriate in the public interest or for the protection of investors.
    (f) If the Commission finds that a registered security-based swap
data repository is no longer in existence or has ceased to do business
in the capacity specified in its application for registration, the
Commission, by order, may cancel the registration.

Sec.  240.13n-3  Registration of successor to registered security-based
swap data repository.

    (a) In the event that a security-based swap data repository
succeeds to and continues the business of a security-based swap data
repository registered pursuant to section 13(n) of the Act (15 U.S.C.
78m(n)), the registration of the predecessor shall be deemed to remain
effective as the registration of the successor if, within 30 days after
such succession, the successor files an application for registration on
Form SDR (17 CFR 249.1500), and the predecessor files a withdrawal from
registration on Form SDR; provided, however, that the registration of
the predecessor security-based swap data repository shall cease to be
effective 90 days after the publication of notice of the filing of the
application for registration on Form SDR filed by the successor
security-based swap data repository.
    (b) Notwithstanding paragraph (a) of this section, if a security-
based swap data repository succeeds to and continues the business of a
registered predecessor security-based swap data repository, and the
succession is based solely on a change in the predecessor's date or
state of incorporation, form of organization, or composition of a
partnership, the successor may, within 30 days after the succession,
amend the registration of the predecessor security-based swap data
repository on Form SDR (17 CFR 249.1500) to reflect these changes. This
amendment shall be deemed an application for registration filed by the
predecessor and adopted by the successor.

Sec.  240.13n-4  Duties and core principles of security-based swap data
repository.

    (a) Definitions. For purposes of this section--
    (1) Affiliate of a security-based swap data repository means a
person that, directly or indirectly, controls, is

controlled by, or is under common control with the security-based swap
data repository.
    (2) Board means the board of directors of the security-based swap
data repository or a body performing a function similar to the board of
directors of the security-based swap data repository.
    (3) Control (including the terms controlled by and under common
control with) means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of a
person, whether through the ownership of voting securities, by
contract, or otherwise. A person is presumed to control another person
if the person:
    (i) Is a director, general partner, or officer exercising executive
responsibility (or having similar status or functions);
    (ii) Directly or indirectly has the right to vote 25 percent or
more of a class of voting securities or has the power to sell or direct
the sale of 25 percent or more of a class of voting securities; or
    (iii) In the case of a partnership, has the right to receive, upon
dissolution, or has contributed, 25 percent or more of the capital.
    (4) Director means any member of the board.
    (5) Direct electronic access means access, which shall be in a form
and manner acceptable to the Commission, to data stored by a security-
based swap data repository in an electronic format and updated at the
same time as the security-based swap data repository's data is updated
so as to provide the Commission or any of its designees with the
ability to query or analyze the data in the same manner that the
security-based swap data repository can query or analyze the data.
    (6) Market participant means any person participating in the
security-based swap market, including, but not limited to, security-
based swap dealers, major security-based swap participants, and any
other counterparties to a security-based swap transaction.
    (7) Nonaffiliated third party of a security-based swap data
repository means any person except:
    (i) The security-based swap data repository;
    (ii) Any affiliate of the security-based swap data repository; or
    (iii) A person employed by a security-based swap data repository
and any entity that is not the security-based swap data repository's
affiliate (and ``nonaffiliated third party'' includes such entity that
jointly employs the person).
    (8) Person associated with a security-based swap data repository
means:
    (i) Any partner, officer, or director of such security-based swap
data repository (or any person occupying a similar status or performing
similar functions);
    (ii) Any person directly or indirectly controlling, controlled by,
or under common control with such security-based swap data repository;
or
    (iii) Any employee of such security-based swap data repository.
    (b) Duties. To be registered, and maintain registration, as a
security-based swap data repository, a security-based swap data
repository shall:
    (1) Subject itself to inspection and examination by any
representative of the Commission;
    (2) Accept data as prescribed in Regulation SBSR (17 CFR 242.900
through 242.909) for each security-based swap;
    (3) Confirm, as prescribed in Rule 13n-5 (Sec.  240.13n-5), with
both counterparties to the security-based swap the accuracy of the data
that was submitted;
    (4) Maintain, as prescribed in Rule 13n-5, the data described in
Regulation SBSR in such form, in such manner, and for such period as
provided therein and in the Act and the rules and regulations
thereunder;
    (5) Provide direct electronic access to the Commission (or any
designee of the Commission, including another registered entity);
    (6) Provide the information described in Regulation SBSR in such
form and at such frequency as prescribed in Regulation SBSR to comply
with the public reporting requirements set forth in section 13(m) of
the Act (15 U.S.C. 78m(m)) and the rules and regulations thereunder;
    (7) At such time and in such manner as may be directed by the
Commission, establish automated systems for monitoring, screening, and
analyzing security-based swap data;
    (8) Maintain the privacy of any and all security-based swap
transaction information that the security-based swap data repository
receives from a security-based swap dealer, counterparty, or any
registered entity as prescribed in Rule 13n-9 (Sec.  240.13n-9); and
    (9) [Reserved]
    (10) [Reserved]
    (11) Designate an individual to serve as a chief compliance
officer.
    (c) Compliance with core principles. A security-based swap data
repository shall comply with the core principles as described in this
paragraph.
    (1) Market access to services and data. Unless necessary or
appropriate to achieve the purposes of the Act and the rules and
regulations thereunder, the security-based swap data repository shall
not adopt any policies or procedures or take any action that results in
an unreasonable restraint of trade or impose any material
anticompetitive burden on the trading, clearing, or reporting of
transactions. To comply with this core principle, each security-based
swap data repository shall:
    (i) Ensure that any dues, fees, or other charges imposed by, and
any discounts or rebates offered by, a security-based swap data
repository are fair and reasonable and not unreasonably discriminatory.
Such dues, fees, other charges, discounts, or rebates shall be applied
consistently across all similarly-situated users of such security-based
swap data repository's services, including, but not limited to, market
participants, market infrastructures (including central
counterparties), venues from which data can be submitted to the
security-based swap data repository (including exchanges, security-
based swap execution facilities, electronic trading venues, and
matching and confirmation platforms), and third party service
providers;
    (ii) Permit market participants to access specific services offered
by the security-based swap data repository separately;
    (iii) Establish, monitor on an ongoing basis, and enforce clearly
stated objective criteria that would permit fair, open, and not
unreasonably discriminatory access to services offered and data
maintained by the security-based swap data repository as well as fair,
open, and not unreasonably discriminatory participation by market
participants, market infrastructures, venues from which data can be
submitted to the security-based swap data repository, and third party
service providers that seek to connect to or link with the security-
based swap data repository; and
    (iv) Establish, maintain, and enforce written policies and
procedures reasonably designed to review any prohibition or limitation
of any person with respect to access to services offered, directly or
indirectly, or data maintained by the security-based swap data
repository and to grant such person access to such services or data if
such person has been discriminated against unfairly.
    (2) Governance arrangements. Each security-based swap data
repository shall establish governance arrangements that are transparent
to fulfill public interest requirements under the Act and the rules and
regulations thereunder; to

carry out functions consistent with the Act, the rules and regulations
thereunder, and the purposes of the Act; and to support the objectives
of the Federal Government, owners, and participants. To comply with
this core principle, each security-based swap data repository shall:
    (i) Establish governance arrangements that are well defined and
include a clear organizational structure with effective internal
controls;
    (ii) Establish governance arrangements that provide for fair
representation of market participants;
    (iii) Provide representatives of market participants, including
end-users, with the opportunity to participate in the process for
nominating directors and with the right to petition for alternative
candidates; and
    (iv) Establish, maintain, and enforce written policies and
procedures reasonably designed to ensure that the security-based swap
data repository's senior management and each member of the board or
committee that has the authority to act on behalf of the board possess
requisite skills and expertise to fulfill their responsibilities in the
management and governance of the security-based swap data repository,
have a clear understanding of their responsibilities, and exercise
sound judgment about the security-based swap data repository's affairs.
    (3) Conflicts of interest. Each security-based swap data repository
shall establish and enforce written policies and procedures reasonably
designed to minimize conflicts of interest in the decision-making
process of the security-based swap data repository and establish a
process for resolving any such conflicts of interest. Such conflicts of
interest include, but are not limited to: conflicts between the
commercial interests of a security-based swap data repository and its
statutory and regulatory responsibilities; conflicts in connection with
the commercial interests of certain market participants or linked
market infrastructures, third party service providers, and others;
conflicts between, among, or with persons associated with the security-
based swap data repository, market participants, affiliates of the
security-based swap data repository, and nonaffiliated third parties;
and misuse of confidential information, material, nonpublic
information, and/or intellectual property. To comply with this core
principle, each security-based swap data repository shall:
    (i) Establish, maintain, and enforce written policies and
procedures reasonably designed to identify and mitigate potential and
existing conflicts of interest in the security-based swap data
repository's decision-making process on an ongoing basis;
    (ii) With respect to the decision-making process for resolving any
conflicts of interest, require the recusal of any person involved in
such conflict from such decision-making; and
    (iii) Establish, maintain, and enforce reasonable written policies
and procedures regarding the security-based swap data repository's non-
commercial and/or commercial use of the security-based swap transaction
information that it receives from a market participant, any registered
entity, or any other person.

    Note to Sec.  240.13n-4:  This rule is not intended to limit, or
restrict, the applicability of other provisions of the federal
securities laws, including, but not limited to, section 13(m) of the
Act (15 U.S.C. 78m(m)) and the rules and regulations thereunder.

Sec.  240.13n-5  Data collection and maintenance.

    (a) Definitions. For purposes of this section--
    (1) Asset class means those security-based swaps in a particular
broad category, including, but not limited to, credit derivatives and
equity derivatives.
    (2) Position means the gross and net notional amounts of open
security-based swap transactions aggregated by one or more attributes,
including, but not limited to, the:
    (i) Underlying instrument, index, or reference entity;
    (ii) Counterparty;
    (iii) Asset class;
    (iv) Long risk of the underlying instrument, index, or reference
entity; and
    (v) Short risk of the underlying instrument, index, or reference
entity.
    (3) Transaction data means all information reported to a security-
based swap data repository pursuant to the Act and the rules and
regulations thereunder, except for information provided pursuant to
Rule 906(b) of Regulation SBSR (17 CFR 242.906(b)).
    (b) Requirements. Every security-based swap data repository
registered with the Commission shall comply with the following data
collection and data maintenance standards:
    (1) Transaction data. (i) Every security-based swap data repository
shall establish, maintain, and enforce written policies and procedures
reasonably designed for the reporting of complete and accurate
transaction data to the security-based swap data repository and shall
accept all transaction data that is reported in accordance with such
policies and procedures.
    (ii) If a security-based swap data repository accepts any security-
based swap in a particular asset class, the security-based swap data
repository shall accept all security-based swaps in that asset class
that are reported to it in accordance with its policies and procedures
required by paragraph (b)(1)(i) of this section.
    (iii) Every security-based swap data repository shall establish,
maintain, and enforce written policies and procedures reasonably
designed to satisfy itself that the transaction data that has been
submitted to the security-based swap data repository is complete and
accurate, and clearly identifies the source for each trade side and the
pairing method (if any) for each transaction in order to identify the
level of quality of the transaction data.
    (iv) Every security-based swap data repository shall promptly
record the transaction data it receives.
    (2) Positions. Every security-based swap data repository shall
establish, maintain, and enforce written policies and procedures
reasonably designed to calculate positions for all persons with open
security-based swaps for which the security-based swap data repository
maintains records.
    (3) Every security-based swap data repository shall establish,
maintain, and enforce written policies and procedures reasonably
designed to ensure that the transaction data and positions that it
maintains are complete and accurate.
    (4) Every security-based swap data repository shall maintain
transaction data and related identifying information for not less than
five years after the applicable security-based swap expires and
historical positions for not less than five years:
    (i) In a place and format that is readily accessible and usable to
the Commission and other persons with authority to access or view such
information; and
    (ii) In an electronic format that is non-rewriteable and non-
erasable.
    (5) Every security-based swap data repository shall establish,
maintain, and enforce written policies and procedures reasonably
designed to prevent any provision in a valid security-based swap from
being invalidated or modified through the procedures or operations of
the security-based swap data repository.
    (6) Every security-based swap data repository shall establish
procedures and provide facilities reasonably designed to effectively
resolve disputes over the accuracy of the transaction data and
positions that are recorded in the security-based swap data repository.

    (7) If a security-based swap data repository ceases doing business,
or ceases to be registered pursuant to section 13(n) of the Act (15
U.S.C. 78m(n)) and the rules and regulations thereunder, it must
continue to preserve, maintain, and make accessible the transaction
data and historical positions required to be collected, maintained, and
preserved by this section in the manner required by the Act and the
rules and regulations thereunder and for the remainder of the period
required by this section.
    (8) Every security-based swap data repository shall make and keep
current a plan to ensure that the transaction data and positions that
are recorded in the security-based swap data repository continue to be
maintained in accordance with Rule 13n-5(b)(7) (Sec.  240.13n-5(b)(7)),
which shall include procedures for transferring the transaction data
and positions to the Commission or its designee (including another
registered security-based swap data repository).

Sec.  240.13n-6  Automated systems.

    Every security-based swap data repository, with respect to those
systems that support or are integrally related to the performance of
its activities, shall establish, maintain, and enforce written policies
and procedures reasonably designed to ensure that its systems provide
adequate levels of capacity, integrity, resiliency, availability, and
security.

Sec.  240.13n-7  Recordkeeping of security-based swap data repository.

    (a) Every security-based swap data repository shall make and keep
current the following books and records relating to its business:
    (1) A record for each office listing, by name or title, each person
at that office who, without delay, can explain the types of records the
security-based swap data repository maintains at that office and the
information contained in those records; and
    (2) A record listing each officer, manager, or person performing
similar functions of the security-based swap data repository
responsible for establishing policies and procedures that are
reasonably designed to ensure compliance with the Act and the rules and
regulations thereunder.
    (b) Recordkeeping rule for security-based swap data repositories.
(1) Every security-based swap data repository shall keep and preserve
at least one copy of all documents, including all documents and
policies and procedures required by the Act and the rules and
regulations thereunder, correspondence, memoranda, papers, books,
notices, accounts, and other such records as shall be made or received
by it in the course of its business as such.
    (2) Every security-based swap data repository shall keep all such
documents for a period of not less than five years, the first two years
in a place that is immediately available to representatives of the
Commission for inspection and examination.
    (3) Every security-based swap data repository shall, upon request
of any representative of the Commission, promptly furnish to the
possession of such representative copies of any documents required to
be kept and preserved by it pursuant to paragraphs (a) and (b) of this
section.
    (c) If a security-based swap data repository ceases doing business,
or ceases to be registered pursuant to section 13(n) of the Act (15
U.S.C. 78m(n)) and the rules and regulations thereunder, it must
continue to preserve, maintain, and make accessible the records and
data required to be collected, maintained and preserved by this section
in the manner required by this section and for the remainder of the
period required by this section.
    (d) This section does not apply to transaction data and positions
collected and maintained pursuant to Rule 13n-5 (Sec.  240.13n-5).

Sec.  240.13n-8  Reports to be provided to the Commission.

    Every security-based swap data repository shall promptly report to
the Commission, in a form and manner acceptable to the Commission, such
information as the Commission determines to be necessary or appropriate
for the Commission to perform the duties of the Commission under the
Act and the rules and regulations thereunder.

Sec.  240.13n-9  Privacy requirements of security-based swap data
repository.

    (a) Definitions. For purposes of this section--
    (1) Affiliate of a security-based swap data repository means a
person that, directly or indirectly, controls, is controlled by, or is
under common control with the security-based swap data repository.
    (2) Control (including the terms controlled by and under common
control with) means the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of a
person, whether through the ownership of voting securities, by
contract, or otherwise. A person is presumed to control another person
if the person:
    (i) Is a director, general partner, or officer exercising executive
responsibility (or having similar status or functions);
    (ii) Directly or indirectly has the right to vote 25 percent or
more of a class of voting securities or has the power to sell or direct
the sale of 25 percent or more of a class of voting securities; or
    (iii) In the case of a partnership, has the right to receive, upon
dissolution, or has contributed, 25 percent or more of the capital.
    (3) Market participant means any person participating in the
security-based swap market, including, but not limited to, security-
based swap dealers, major security-based swap participants, and any
other counterparties to a security-based swap transaction.
    (4) Nonaffiliated third party of a security-based swap data
repository means any person except:
    (i) The security-based swap data repository;
    (ii) The security-based swap data repository's affiliate; or
    (iii) A person employed by a security-based swap data repository
and any entity that is not the security-based swap data repository's
affiliate (and nonaffiliated third party includes such entity that
jointly employs the person).
    (5) Nonpublic personal information means:
    (i) Personally identifiable information that is not publicly
available information; and
    (ii) Any list, description, or other grouping of market
participants (and publicly available information pertaining to them)
that is derived using personally identifiable information that is not
publicly available information.
    (6) Personally identifiable information means any information:
    (i) A market participant provides to a security-based swap data
repository to obtain service from the security-based swap data
repository;
    (ii) About a market participant resulting from any transaction
involving a service between the security-based swap data repository and
the market participant; or
    (iii) The security-based swap data repository obtains about a
market participant in connection with providing a service to that
market participant.
    (7) Person associated with a security-based swap data repository
means:
    (i) Any partner, officer, or director of such security-based swap
data repository (or any person occupying a similar status or performing
similar functions);
    (ii) Any person directly or indirectly controlling, controlled by,
or under

common control with such security-based swap data repository; or
    (iii) Any employee of such security-based swap data repository.
    (b) Each security-based swap data repository shall:
    (1) Establish, maintain, and enforce written policies and
procedures reasonably designed to protect the privacy of any and all
security-based swap transaction information that the security-based
swap data repository receives from a security-based swap dealer,
counterparty, or any registered entity. Such policies and procedures
shall include, but are not limited to, policies and procedures to
protect the privacy of any and all security-based swap transaction
information that the security-based swap data repository shares with
affiliates and nonaffiliated third parties; and
    (2) Establish and maintain safeguards, policies, and procedures
reasonably designed to prevent the misappropriation or misuse, directly
or indirectly, of:
    (i) Any confidential information received by the security-based
swap data repository, including, but not limited to, trade data,
position data, and any nonpublic personal information about a market
participant or any of its customers;
    (ii) Material, nonpublic information; and/or
    (iii) Intellectual property, such as trading strategies or
portfolio positions, by the security-based swap data repository or any
person associated with the security-based swap data repository for
their personal benefit or the benefit of others. Such safeguards,
policies, and procedures shall address, without limitation:
    (A) Limiting access to such confidential information, material,
nonpublic information, and intellectual property;
    (B) Standards pertaining to the trading by persons associated with
the security-based swap data repository for their personal benefit or
the benefit of others; and
    (C) Adequate oversight to ensure compliance with this subparagraph.

Sec.  240.13n-10  Disclosure requirements of security-based swap data
repository.

    (a) Definition. For purposes of this section, market participant
means any person participating in the over-the-counter derivatives
market, including, but not limited to, security-based swap dealers,
major security-based swap participants, and any other counterparties to
a security-based swap transaction.
    (b) Before accepting any security-based swap data from a market
participant or upon a market participant's request, a security-based
swap data repository shall furnish to the market participant a
disclosure document that contains the following written information,
which must reasonably enable the market participant to identify and
evaluate accurately the risks and costs associated with using the
services of the security-based swap data repository:
    (1) The security-based swap data repository's criteria for
providing others with access to services offered and data maintained by
the security-based swap data repository;
    (2) The security-based swap data repository's criteria for those
seeking to connect to or link with the security-based swap data
repository;
    (3) A description of the security-based swap data repository's
policies and procedures regarding its safeguarding of data and
operational reliability, as described in Rule 13n-6 (Sec.  240.13n-6);
    (4) A description of the security-based swap data repository's
policies and procedures reasonably designed to protect the privacy of
any and all security-based swap transaction information that the
security-based swap data repository receives from a security-based swap
dealer, counterparty, or any registered entity, as described in Rule
13n-9(b)(1) (Sec.  240.13n-9(b)(1));
    (5) A description of the security-based swap data repository's
policies and procedures regarding its non-commercial and/or commercial
use of the security-based swap transaction information that it receives
from a market participant, any registered entity, or any other person;
    (6) A description of the security-based swap data repository's
dispute resolution procedures involving market participants, as
described in Rule 13n-5(b)(6) (Sec.  240.13n-5(b)(6));
    (7) A description of all the security-based swap data repository's
services, including any ancillary services;
    (8) The security-based swap data repository's updated schedule of
any dues; unbundled prices, rates, or other fees for all of its
services, including any ancillary services; any discounts or rebates
offered; and the criteria to benefit from such discounts or rebates;
and
    (9) A description of the security-based swap data repository's
governance arrangements.

Sec.  240.13n-11  Chief compliance officer of security-based swap data
repository; compliance reports and financial reports.

    (a) In general. Each security-based swap data repository shall
identify on Form SDR (17 CFR 249.1500) a person who has been designated
by the board to serve as a chief compliance officer of the security-
based swap data repository. The compensation, appointment, and removal
of the chief compliance officer shall require the approval of a
majority of the security-based swap data repository's board.
    (b) Definitions. For purposes of this section--
    (1) Board means the board of directors of the security-based swap
data repository or a body performing a function similar to the board of
directors of the security-based swap data repository.
    (2) Director means any member of the board.
    (3) EDGAR Filer Manual has the same meaning as set forth in Rule 11
of Regulation S-T (17 CFR 232.11).
    (4) Interactive Data Financial Report has the same meaning as set
forth in Rule 11 of Regulation S-T (17 CFR 232.11).
    (5) Material change means a change that a chief compliance officer
would reasonably need to know in order to oversee compliance of the
security-based swap data repository.
    (6) Material compliance matter means any compliance matter that the
board would reasonably need to know to oversee the compliance of the
security-based swap data repository and that involves, without
limitation:
    (i) A violation of the federal securities laws by the security-
based swap data repository, its officers, directors, employees, or
agents;
    (ii) A violation of the policies and procedures of the security-
based swap data repository by the security-based swap data repository,
its officers, directors, employees, or agents; or
    (iii) A weakness in the design or implementation of the policies
and procedures of the security-based swap data repository.
    (7) Official filing has the same meaning as set forth in Rule 11 of
Regulation S-T (17 CFR 232.11).
    (8) Senior officer means the chief executive officer or other
equivalent officer.
    (9) Tag (including the term tagged) has the same meaning as set
forth in Rule 11 of Regulation S-T (17 CFR 232.11).
    (c) Duties. Each chief compliance officer of a security-based swap
data repository shall:
    (1) Report directly to the board or to the senior officer of the
security-based swap data repository;
    (2) Review the compliance of the security-based swap data
repository with respect to the requirements and

core principles described in section 13(n) of the Act (15 U.S.C.
78m(n)) and the rules and regulations thereunder;
    (3) In consultation with the board or the senior officer of the
security-based swap data repository, take reasonable steps to resolve
any material conflicts of interest that may arise;
    (4) Be responsible for administering each policy and procedure that
is required to be established pursuant to section 13 of the Act (15
U.S.C. 78m) and the rules and regulations thereunder;
    (5) Take reasonable steps to ensure compliance with the Act and the
rules and regulations thereunder relating to security-based swaps,
including each rule prescribed by the Commission under section 13 of
the Act (15 U.S.C. 78m);
    (6) Establish procedures for the remediation of noncompliance
issues identified by the chief compliance officer through any--
    (i) Compliance office review;
    (ii) Look-back;
    (iii) Internal or external audit finding;
    (iv) Self-reported error; or
    (v) Validated complaint; and
    (7) Establish and follow appropriate procedures for the handling,
management response, remediation, retesting, and closing of
noncompliance issues.
    (d) Compliance reports--(1) In general. The chief compliance
officer shall annually prepare and sign a report that contains a
description of the compliance of the security-based swap data
repository with respect to the Act and the rules and regulations
thereunder and each policy and procedure of the security-based swap
data repository (including the code of ethics and conflicts of interest
policies of the security-based swap data repository). Each compliance
report shall also contain, at a minimum, a description of:
    (i) The security-based swap data repository's enforcement of its
policies and procedures;
    (ii) Any material changes to the policies and procedures since the
date of the preceding compliance report;
    (iii) Any recommendation for material changes to the policies and
procedures as a result of the annual review, the rationale for such
recommendation, and whether such policies and procedures were or will
be modified by the security-based swap data repository to incorporate
such recommendation; and
    (iv) Any material compliance matters identified since the date of
the preceding compliance report.
    (2) Requirements. A financial report of the security-based swap
data repository shall be filed with the Commission as described in
paragraph (g) of this section and shall accompany a compliance report
as described in paragraph (d)(1) of this section. The compliance report
shall include a certification by the chief compliance officer that, to
the best of his or her knowledge and reasonable belief, and under
penalty of law, the compliance report is accurate and complete. The
compliance report shall also be filed in a tagged data format in
accordance with the instructions contained in the EDGAR Filer Manual,
as described in Rule 301 of Regulation S-T (17 CFR 232.301).
    (e) The chief compliance officer shall submit the annual compliance
report to the board for its review prior to the filing of the report
with the Commission.
    (f) Financial reports. Each financial report filed with a
compliance report shall:
    (1) Be a complete set of financial statements of the security-based
swap data repository that are prepared in accordance with U.S.
generally accepted accounting principles for the most recent two fiscal
years of the security-based swap data repository;
    (2) Be audited in accordance with the standards of the Public
Company Accounting Oversight Board by a registered public accounting
firm that is qualified and independent in accordance with Rule 2-01 of
Regulation S-X (17 CFR 210.2-01);
    (3) Include a report of the registered public accounting firm that
complies with paragraphs (a) through (d) of Rule 2-02 of Regulation S-X
(17 CFR 210.2-02);
    (4) If the security-based swap data repository's financial
statements contain consolidated information of a subsidiary of the
security-based swap data repository, provide condensed financial
information, in a financial statement footnote, as to the financial
position, changes in financial position and results of operations of
the security-based swap data repository, as of the same dates and for
the same periods for which audited consolidated financial statements
are required. Such financial information need not be presented in
greater detail than is required for condensed statements by Rules 10-
01(a)(2), (3), and (4) of Regulation S-X (17 CFR 210.10-01). Detailed
footnote disclosure that would normally be included with complete
financial statements may be omitted with the exception of disclosures
regarding material contingencies, long-term obligations, and
guarantees. Descriptions of significant provisions of the security-
based swap data repository's long-term obligations, mandatory dividend
or redemption requirements of redeemable stocks, and guarantees of the
security-based swap data repository shall be provided along with a
five-year schedule of maturities of debt. If the material
contingencies, long-term obligations, redeemable stock requirements,
and guarantees of the security-based swap data repository have been
separately disclosed in the consolidated statements, then they need not
be repeated in this schedule; and
    (5) Be provided as an official filing in accordance with the EDGAR
Filer Manual and include, as part of the official filing, an
Interactive Data Financial Report filed in accordance with Rule 407 of
Regulation S-T (17 CFR 232.407).
    (g) Reports filed pursuant to paragraphs (d) and (f) of this
section shall be filed within 60 days after the end of the fiscal year
covered by such reports.
    (h) No officer, director, or employee of a security-based swap data
repository may directly or indirectly take any action to coerce,
manipulate, mislead, or fraudulently influence the security-based swap
data repository's chief compliance officer in the performance of his or
her duties under this section.

Sec.  240.13n-12   Exemption from requirements governing security-based
swap data repositories for certain non-U.S. persons.

    (a) Definitions. For purposes of this section--
    (1) Non-U.S. person means a person that is not a U.S. person.
    (2) U.S. person shall have the same meaning as set forth in Rule
3a71-3(a)(4)(i) (Sec.  240.3a71-3(a)(4)(i)).
    (b) A non-U.S. person that performs the functions of a security-
based swap data repository within the United States shall be exempt
from the registration and other requirements set forth in section 13(n)
of the Act (15 U.S.C. 78m(n)), and the rules and regulations
thereunder, provided that each regulator with supervisory authority
over such non-U.S. person has entered into a memorandum of
understanding or other arrangement with the Commission that addresses
the confidentiality of data collected and maintained by such non-U.S.
person, access by the Commission to such data, and any other matters
determined by the Commission.

0
8. Section 240.24b-2 is amended by:
0
a. In the first sentence of paragraph (b), removing ``paragraph (g)''
and adding in its place ``paragraphs (g) and (h)''; and
0
b. Adding paragraph (h).

    The addition reads as follows:

Sec.  240.24b-2  Nondisclosure of information filed with the Commission
and with any exchange.

* * * * *
    (h) A security-based swap data repository shall not omit the
confidential portion from the material filed in electronic format
pursuant to section 13(n) of the Act (15 U.S.C. 78m(n)) and the rules
and regulations thereunder. In lieu of the procedures described in
paragraph (b) of this section, a security-based swap data repository
shall request confidential treatment electronically for any material
filed in electronic format pursuant to section 13(n) of the Act (15
U.S.C. 78m(n)) and the rules and regulations thereunder.

PART 249--FORMS, SECURITIES EXCHANGE ACT OF 1934

0
9. The authority citation for Part 249 continues to read, in part, as
follows:

    Authority: 15 U.S.C. 78a et seq. and 7201 et seq.; 12 U.S.C.
5461 et seq.; and 18 U.S.C. 1350, unless otherwise noted.
* * * * *

0
10. Subpart P consisting of Sec.  249.1500 is added to read as follows:

Subpart P--Forms for Registration of Security-Based Swap Data
Repositories

Sec.  249.1500  Form SDR, for application for registration as a
security-based swap data repository, amendments thereto, or withdrawal
from registration.[

Note: The text of Form SDR does not, and the amendments will not,
appear in the Code of Federal Regulations.]

    The form shall be used for registration as a security-based swap
data repository, and for the amendments to and withdrawal from such
registration pursuant to section 13(n) of the Exchange Act (15 U.S.C.
78m(n)).
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM SDR
APPLICATION OR AMENDMENT TO APPLICATION FOR REGISTRATION OR WITHDRAWAL
FROM REGISTRATION AS SECURITY-BASED SWAP DATA REPOSITORY UNDER THE
SECURITIES EXCHANGE ACT OF 1934
GENERAL INSTRUCTIONS FOR PREPARING AND FILING FORM SDR
    1. Form SDR and exhibits thereto are to be filed electronically in
a tagged data format through EDGAR with the Securities and Exchange
Commission by an applicant for registration as a security-based swap
data repository, by a registered security-based swap data repository
amending its application for registration, or by a registered security-
based swap data repository withdrawing its registration, pursuant to
Section 13(n) of the Securities Exchange Act of 1934 (``Exchange Act'')
and Rules 13n-1 and 13n-2 thereunder. The electronic filing
requirements of Regulation S-T will apply to all such filings.
    2. With respect to an applicant for registration as a security-
based swap data repository, Form SDR also constitutes an application
for registration as a securities information processor. An amendment or
withdrawal on Form SDR also constitutes an amendment or withdrawal of
securities information processor registration pursuant to Section 11A
of the Exchange Act and the rules and regulations thereunder.
Applicants for registration as a securities information processor not
seeking to become dually-registered as a security-based swap data
repository and a securities information processor, or registered
securities information processors that are not dually-registered as a
security-based swap data repository and a securities information
processor, should continue to file on Form SIP.
    3. Upon the filing of an application for registration, the
Commission will publish notice of the filing and afford interested
persons an opportunity to submit written data, views, and arguments. No
application for registration shall be effective unless the Commission,
by order, grants such registration.
    4. Individuals' names shall be given in full (last name, first
name, middle name).
    5. Form SDR shall be signed by a person who is duly authorized to
act on behalf of the security-based swap data repository.
    6. If Form SDR is being filed as an application for registration,
all applicable items must be answered in full. If any item is not
applicable, indicate by ``none'' or ``N/A'' as appropriate.
    7. Disclosure of the information specified on this form is
mandatory prior to processing of an application for registration as a
security-based swap data repository and a securities information
processor. The information will be used for the principal purpose of
determining whether the Commission should grant or deny registration to
an applicant. Except in cases where confidential treatment is requested
by the applicant and granted by the Commission pursuant to the Freedom
of Information Act and the rules of the Commission thereunder,
information supplied on this form may be made available on the
Commission's Web site, will be included routinely in the public files
of the Commission, and will be available for inspection by any
interested person. A form that is not prepared and executed in
compliance with applicable requirements may be deemed as not acceptable
for filing. Acceptance of this form, however, shall not constitute any
finding that it has been filed as required or that the information
submitted is true, current, or complete. Intentional misstatements or
omissions of fact constitute federal criminal violations (see 18 U.S.C.
1001 and 15 U.S.C. 78ff(a)).
    8. Rule 13n-1(d) under the Exchange Act requires a security-based
swap data repository to amend promptly Form SDR if any information
contained in items 1 through 17, 26, and 48 of this application, or any
amendment thereto, is or becomes inaccurate for any reason. Rule 13n-
1(d) under the Exchange Act also requires a security-based swap data
repository to file annually an amendment on Form SDR within 60 days
after the end of each fiscal year of such security-based swap data
repository. Rule 13n-2 under the Exchange Act requires a security-based
swap data repository that seeks to withdraw from registration to file
such withdrawal on Form SDR.
    9. For the purposes of this form, the term ``applicant'' includes
any applicant for registration as a security-based swap data repository
or any registered security-based swap data repository that is amending
Form SDR or withdrawing its registration as a security-based swap data
repository. In addition, the term ``applicant'' includes any applicant
for registration as a securities information processor.
    10. Applicants filing Form SDR as an amendment (other than an
annual amendment) need to update any information contained in items 1
through 17, 26, and 48 that has become inaccurate since the security-
based swap data repository's last filing of Form SDR. An applicant
submitting an amendment (other than an annual amendment) represents
that all unamended information contained in items 1 through 17, 26, and
48 remains true, current, and complete as filed.
    11. Applicants filing a withdrawal need to update any items or
exhibits that are being amended since the security-based swap data
repository's last filing of Form SDR. An applicant submitting a
withdrawal represents that

all unamended items and exhibits remain true, current, and complete as
filed.
    12. Applicants filing an annual amendment must file a complete
form, including all pages, answers to all items, together with all
exhibits. Applicants filing an annual amendment must indicate which
items have been amended since the last annual amendment, or, if the
security-based swap data repository has not yet filed an annual
amendment, since the security-based swap data repository's application
for registration.
    DEFINITIONS: Unless the context requires otherwise, all terms used
in this form have the same meaning as in the Exchange Act, as amended,
and in the rules and regulations of the Commission thereunder.
    This collection of information will be reviewed by the Office of
Management and Budget in accordance with the clearance requirements of
44 U.S.C. 3507. An agency may not conduct or sponsor, and a person is
not required to respond to, a collection of information unless it
displays a currently valid control number. The Commission estimates
that the average burden to respond to Form SDR will be between 12 and
482 hours depending upon the purpose for which the form is being filed.
Any member of the public may direct to the Commission any comments
concerning the accuracy of this burden estimate and any suggestions for
reducing this burden. It is mandatory that a security-based swap data
repository file all notifications, updates, and reports required by
Rules 13n-1 and 13n-2 using Form SDR.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM SDR

APPLICATION OR AMENDMENT TO APPLICATION FOR REGISTRATION OR WITHDRAWAL
FROM REGISTRATION AS SECURITY-BASED SWAP DATA REPOSITORY UNDER THE
SECURITIES EXCHANGE ACT OF 1934

-----------------------------------------------------------------------
(Exact Name of Applicant as Specified in Charter)

-----------------------------------------------------------------------
(Address of Principal Executive Offices)

    If this is an APPLICATION for registration, complete this form in
full and check here [ballot]
    If this is an AMENDMENT to an application, or to an effective
registration (other than an annual amendment), list all items that are
amended and check here [ballot]
-----------------------------------------------------------------------
-----------------------------------------------------------------------
-----------------------------------------------------------------------

    If this is an ANNUAL AMENDMENT to an application, or to an
effective registration, complete this form in full, list all items that
are amended since the last annual amendment, and check here [ballot]
-----------------------------------------------------------------------
-----------------------------------------------------------------------
-----------------------------------------------------------------------

    If this is a WITHDRAWAL from registration, list all items that are
amended and check here [ballot]
-----------------------------------------------------------------------
-----------------------------------------------------------------------
-----------------------------------------------------------------------

    Or check here to confirm that there is no inaccurate information to
update [ballot]

GENERAL INFORMATION

1. Name under which business is conducted, if different than name
specified herein:------------------------------------------------------
-----------------------------------------------------------------------

2. If name of business is amended, state previous business name:-------
-----------------------------------------------------------------------

3. Mailing address:----------------------------------------------------
-----------------------------------------------------------------------

    (Number and Street)
-----------------------------------------------------------------------

    (City) (State/Country) (Mailing Zip/Postal Code)

    4. List of principal office(s) and address(es) where security-based
swap data repository and securities information processor activities
are conducted:

Office

-----------------------------------------------------------------------
-----------------------------------------------------------------------
-----------------------------------------------------------------------
-----------------------------------------------------------------------

Address

-----------------------------------------------------------------------
-----------------------------------------------------------------------
-----------------------------------------------------------------------
-----------------------------------------------------------------------

    5. If the applicant is a successor (within the definition of Rule
12b-2 under the Exchange Act) to a previously registered security-based
swap data repository, please complete the following:

 a. Date of succession:------------------------------------------------
    b. Full name and address of predecessor security-based swap data
repository:
-----------------------------------------------------------------------

(Name)

-----------------------------------------------------------------------

(Number and Street)

-----------------------------------------------------------------------
    (City) (State/Country) (Mailing Zip/Postal Code)

-----------------------------------------------------------------------
c. Predecessor's CIK---------------------------------------------------

    6. List all asset classes of security-based swaps for which the
applicant is collecting and maintaining data or for which it proposes
to collect and maintain data.
-----------------------------------------------------------------------
-----------------------------------------------------------------------

7. Furnish a description of the function(s) that the applicant performs
or proposes to perform.------------------------------------------------
-----------------------------------------------------------------------
-----------------------------------------------------------------------
-----------------------------------------------------------------------

    8. Applicant is a:

[ballot] Corporation
[ballot] Partnership
[ballot] Other Form of Organization
 (Specify)-------------------------------------------------------------

    9. If the applicant is a corporation or other form of organization
(besides a partnership):
    a. Date of incorporation or organization
-----------------------------------------------------------------------

    b. Place of incorporation or state/country of organization
-----------------------------------------------------------------------

    10. If the applicant is a partnership:

 a. Date of filing of partnership agreement----------------------------
 b. Place where partnership agreement was filed------------------------

    11. Applicant understands and consents that any notice or service
of process, pleadings, or other documents in connection with any action
or proceeding against the applicant may be effectuated by certified
mail to the officer specified or person named below at the U.S. address
given. Such officer or person cannot be a Commission member, official,
or employee.

-----------------------------------------------------------------------
(Name of Person or, if Applicant is a Corporation, Title of Officer)

-----------------------------------------------------------------------
(Name of Applicant or Applicable Entity)

-----------------------------------------------------------------------
(Number and Street)

-----------------------------------------------------------------------
    (City) (State) (Zip Code)

-----------------------------------------------------------------------
    (Area Code) (Telephone Number)

    12. If this is a withdrawal from registration, furnish:
    a. Name(s) and address(es) of the person(s) who has or will have
custody or possession of the books and records

that the applicant maintained in connection with its performance of
security-based swap data repository and securities information
processor functions.

-----------------------------------------------------------------------
(Name of Person)

-----------------------------------------------------------------------
(Number and Street)

-----------------------------------------------------------------------
    (City) (State/Country) (Mailing Zip/Postal Code)

-----------------------------------------------------------------------
    (Area Code) (Telephone Number)

    b. If different from above, provide address(es) where such books
and records will be located.

-----------------------------------------------------------------------
(Number and Street)

-----------------------------------------------------------------------
    (City) (State/Country) (Mailing Zip/Postal Code)

    13. SIGNATURE: Applicant has duly caused this application,
amendment, or withdrawal to be signed on its behalf by the undersigned,
hereunto duly authorized, on this date:______. Applicant and the
undersigned hereby represent that all information contained herein is
true, current, and complete. Intentional misstatements or omissions of
fact constitute federal criminal violations (see 18 U.S.C. 1001 and 15
U.S.C. 78ff(a)). It is understood that all required items and exhibits
are considered integral parts of this form and that the submission of
any amendment or withdrawal represents that all unamended items and
exhibits remain true, current, and complete as previously filed and
that the submission of any amendment (other than an annual amendment)
represents that all unamended information contained in items 1 through
17, 26, and 48 remains true, current, and complete as filed. If the
applicant is a non-resident security-based swap data repository, the
applicant and the undersigned further represent that the applicant can,
as a matter of law, and will provide the Commission with prompt access
to the applicant's books and records and that the applicant can, as a
matter of law, and will submit to an onsite inspection and examination
by the Commission. For purposes of this certification, ``non-resident
security-based swap data repository'' means (i) in the case of an
individual, one who resides in or has his principal place of business
in any place not in the United States; (ii) in the case of a
corporation, one incorporated in or having its principal place of
business in any place not in the United States; or (iii) in the case of
a partnership or other unincorporated organization or association, one
having its principal place of business in any place not in the United
States.

-----------------------------------------------------------------------
(Name of Applicant)

-----------------------------------------------------------------------
(Signature of General Partner, Managing Agent, or Principal Officer)

-----------------------------------------------------------------------
(Title)

EXHIBITS--BUSINESS ORGANIZATION

    14. List as Exhibit A any person as defined in Section 3(a)(9) of
the Exchange Act that owns 10 percent or more of the applicant's stock
or that, either directly or indirectly, through agreement or otherwise,
in any other manner, may control or direct the management or policies
of the applicant. State in Exhibit A the full name and address of each
such person and attach a copy of the agreement or, if there is none
written, describe the agreement or basis upon which such person
exercises or may exercise such control or direction.
    15. Attach as Exhibit B the following information about the chief
compliance officer who has been appointed by the board of directors of
the applicant or a person or group performing a function similar to
such board of directors:
    a. Name
    b. Title
    c. Date of commencement and, if appropriate, termination of present
term of position
    d. Length of time the chief compliance officer has held the same
position
    e. Brief account of the business experience of the chief compliance
officer over the last five years
    f. Any other business affiliations in the securities industry or
derivatives industry
    g. Details of:
    (1) any order of the Commission with respect to such person
pursuant to Sections 15(b)(4), 15(b)(6), 19(h)(2), or 19(h)(3) of the
Exchange Act;
    (2) any conviction or injunction of a type described in Sections
15(b)(4)(B) or (C) of the Exchange Act within the past ten years;
    (3) any action of a self-regulatory organization with respect to
such person imposing a final disciplinary sanction pursuant to Sections
6(b)(6), l5A(b)(7), or 17A(b)(3)(G) of the Exchange Act;
    (4) any final action by a self-regulatory organization with respect
to such person constituting a denial, bar, prohibition, or limitation
of membership, participation, or association with a member, or of
access to services offered by such organization or a member thereof;
and
    (5) any final action by another federal regulatory agency,
including the Commodity Futures Trading Commission, any state
regulatory agency, or any foreign financial regulatory authority
resulting in:
    i. a finding that such person has made a false statement or
omission, or has been dishonest, unfair, or unethical;
    ii. a finding that such person has been involved in a violation of
any securities-related regulations or statutes;
    iii. a finding that such person has been a cause of a business
having its authorization to do business denied, suspended, revoked, or
restricted;
    iv. an order entered, in the past ten years, against such person in
connection with a securities-related activity; or
    v. any disciplinary sanction, including a denial, suspension, or
revocation of such person's registration or license or otherwise, by
order, a prevention from associating with a securities-related business
or a restriction of such person's activities.
    16. Attach as Exhibit C a list of the officers, directors,
governors, and persons performing similar functions, and the members of
all standing committees grouped by committee of the applicant or of the
entity identified in item 19 that performs the security-based swap data
repository and securities information processor activities of the
applicant, indicating for each:
    a. Name
    b. Title
    c. Dates of commencement and, if appropriate, termination of
present term of office or position
    d. Length of time each present officer, director, governor, persons
performing similar functions, or member of a standing committee has
held the same office or position
    e. Brief account of the business experience of each officer,
director, governor, persons performing similar functions, or member of
a standing committee over the last five years
    f. Any other business affiliations in the securities industry or
derivatives industry
    g. Details of:
    (1) any order of the Commission with respect to such person
pursuant to Sections 15(b)(4), 15(b)(6), 19(h)(2), or 19(h)(3) of the
Exchange Act;
    (2) any conviction or injunction of a type described in Sections
15(b)(4)(B) or (C) of the Exchange Act within the past ten years;
    (3) any action of a self-regulatory organization with respect to
such person imposing a final disciplinary sanction

pursuant to Sections 6(b)(6), l5A(b)(7), or 17A(b)(3)(G) of the
Exchange Act;
    (4) any final action by a self-regulatory organization with respect
to such person constituting a denial, bar, prohibition, or limitation
of membership, participation, or association with a member, or of
access to services offered by such organization or a member thereof;
and
    (5) any final action by another federal regulatory agency,
including the Commodity Futures Trading Commission, any state
regulatory agency, or any foreign financial regulatory authority
resulting in:
    i. a finding that such person has made a false statement or
omission, or has been dishonest, unfair, or unethical;
    ii. a finding that such person has been involved in a violation of
any securities-related regulations or statutes;
    iii. a finding that such person has been a cause of a business
having its authorization to do business denied, suspended, revoked, or
restricted;
    iv. an order entered, in the past ten years, against such person in
connection with a securities-related activity; or
    v. any disciplinary sanction, including a denial, suspension, or
revocation of such person's registration or license or otherwise, by
order, a prevention from associating with a securities-related business
or a restriction of such person's activities.
    17. Attach as Exhibit D a copy of documents relating to the
governance arrangements of the applicant, including, but not limited
to, the nomination and selection process of the members on the
applicant's board of directors, a person or group performing a function
similar to a board of directors (collectively, ``board''), or any
committee that has the authority to act on behalf of the board; the
responsibilities of the board and each such committee; the composition
of the board and each such committee; and the applicant's policies and
procedures reasonably designed to ensure that the applicant's senior
management and each member of the board or such committee possess
requisite skills and expertise to fulfill their responsibilities in the
management and governance of the applicant, to have a clear
understanding of their responsibilities, and to exercise sound judgment
about the applicant's affairs.
    18. Attach as Exhibit E a copy of the constitution, articles of
incorporation or association with all amendments thereto, existing by-
laws, rules, procedures, and instruments corresponding thereto, of the
applicant.
    19. Attach as Exhibit F a narrative and/or graphic description of
the organizational structure of the applicant. Note: If the security-
based swap data repository or securities information processor
activities of the applicant are conducted primarily by a division,
subdivision, or other segregable entity within the applicant's
corporation or organization, describe the relationship of such entity
within the overall organizational structure and attach as Exhibit F the
description that applies to the segregable entity.
    20. Attach as Exhibit G a list of all affiliates of the applicant
and indicate the general nature of the affiliation. For purposes of
this application, an ``affiliate'' of an applicant means a person that,
directly or indirectly, controls, is controlled by, or is under common
control with the applicant.
    21. Attach as Exhibit H a brief description of any material pending
legal proceeding(s), other than ordinary and routine litigation
incidental to the business, to which the applicant or any of its
affiliates is a party or to which any of its property is the subject.
Include the name of the court or agency in which the proceeding(s) are
pending, the date(s) instituted, the principal parties to the
proceeding, a description of the factual basis alleged to underlie the
proceeding(s), and the relief sought. Include similar information as to
any such proceeding(s) known to be contemplated by any governmental
agencies.
    22. Attach as Exhibit I copies of all material contracts with any
security-based swap execution facility, clearing agency, central
counterparty, or third party service provider. To the extent that form
contracts are used by the applicant, submit a sample of each type of
form contract used. In addition, include a list of security-based swap
execution facilities, clearing agencies, central counterparties, and
third party service providers with whom the applicant has entered into
material contracts.
    23. Attach as Exhibit J procedures implemented by the applicant to
minimize conflicts of interest in the decision-making process of the
applicant and to resolve any such conflicts of interest.

EXHIBITS--FINANCIAL INFORMATION

    24. Attach as Exhibit K a statement of financial position, results
of operations, statement of sources and application of revenues and all
notes or schedules thereto, as of the most recent fiscal year of the
applicant. If statements certified by an independent public accountant
are available, such statements shall be submitted as Exhibit K.
Alternatively, a financial report, as described in Rule 13n-11(f) under
the Exchange Act, may be filed as Exhibit K.
    25. Attach as Exhibit L a statement of financial position and
results of operations for each affiliate of the applicant as of the end
of the most recent fiscal year of each such affiliate. Alternatively,
identify, if available, the most recently filed annual report on Form
10-K under the Exchange Act for any such affiliate as Exhibit L.
    26. Attach as Exhibit M the following:
    a. A complete list of all dues, fees, and other charges imposed, or
to be imposed, as well as all discounts or rebates offered, or to be
offered, by or on behalf of the applicant for its services, including
the security-based swap data repository's services, securities
information processor's services, and any ancillary services, and
identify the service(s) provided for each such due, fee, other charge,
discount, or rebate;
    b. A description of the basis and methods used in determining at
least annually the level and structure of the services as well as the
dues, fees, other charges, discounts, or rebates listed in paragraph a
of this item; and
    c. If the applicant differentiates, or proposes to differentiate,
among its customers, or classes of customers in the amount of any dues,
fees, or other charges imposed or any discount or rebate offered for
the same or similar services, then state and indicate the amount of
each differential. In addition, identify and describe any differences
in the cost of providing such services, and any other factors, that
account for such differences.

EXHIBITS--OPERATIONAL CAPABILITY

    27. Attach as Exhibit N a narrative description, or the functional
specifications, of each service or function listed in item 7 and
performed as a security-based swap data repository or securities
information processor. Include a description of all procedures utilized
for the collection and maintenance of information or records with
respect to transactions or positions in, or the terms and conditions
of, security-based swaps entered into by market participants.
    28. Attach as Exhibit O a list of all computer hardware utilized by
the applicant to perform the security-based swap data repository or
securities information processor functions listed in item 7,
indicating:
    a. Name of manufacturer and manufacturer's equipment identification
number;
    b. Whether such hardware is purchased or leased (If leased, state

from whom leased, duration of lease, and any provisions for purchase or
renewal); and
    c. Where such equipment (exclusive of terminals and other access
devices) is physically located.
    29. Attach as Exhibit P a description of the personnel
qualifications for each category of professional, non-professional, and
supervisory employees employed by the applicant or the division,
subdivision, or other segregable entity within the applicant as
described in item 19.
    30. Attach as Exhibit Q a description of the measures or procedures
implemented by the applicant to provide for the security of any system
employed to perform the functions of the security-based swap data
repository or securities information processor. Include a general
description of any physical and operational safeguards designed to
prevent unauthorized access (whether by input or retrieval) to the
system. Describe any circumstances within the past year in which the
described security measures or safeguards failed to prevent any such
unauthorized access to the system and any measures taken to prevent a
reoccurrence. Describe any measures used by the applicant to satisfy
itself that the information received or disseminated by the system is
accurate.
    31. Where security-based swap data repository or securities
information processor functions are performed by automated facilities
or systems, attach as Exhibit R a description of all backup systems or
subsystems that are designed to prevent interruptions in the
performance of any such function as a result of technical malfunctions
or otherwise in the system itself, in any permitted input or output
system connection, or as a result of any independent source.
    32. Attach as Exhibit S the following:
    a. For each of the security-based swap data repository or
securities information processor functions described in item 7:
    (1) quantify in appropriate units of measure the limits on the
applicant's capacity to receive (or collect), process, store, or
display (or disseminate for display or other use) the data elements
included within each function (e.g., number of inquiries from remote
terminals); and
    (2) identify the factors (mechanical, electronic, or other) that
account for the current limitations reported in answer to (1) on the
applicant's capacity to receive (or collect), process, store, or
display (or disseminate for display or other use) the data elements
included within each function.
    b. If the applicant is able to employ, or presently employs, its
system(s) for any use other than for performing the functions of a
security-based swap data repository or securities information
processor, state the priorities of assignment of capacity between such
functions and such other uses, and state the methods used or able to be
used to divert capacity between such functions and other uses.

EXHIBITS--ACCESS TO SERVICES AND DATA

    33. Attach as Exhibit T the following:
    a. State the number of persons who subscribe, or who have notified
the applicant of their intention to subscribe, to the applicant's
services.
    b. For each instance during the past year in which any person has
been prohibited or limited with respect to access to services offered
or data maintained by the applicant, indicate the name of each such
person and the reason for the prohibition or limitation.
    c. For each of such services that involves the supply of
information to a quotation board, ticker device, electronic information
terminal, or other such device, state the total number of devices to
which information is, or will be supplied (``serviced'') and any
minimum and or maximum number of devices required or permitted by
agreement or otherwise to be serviced by the applicant. In addition,
define the data elements for each service.
    d. For each service that is furnished in machine-readable form,
state the storage media of any service furnished and define the data
elements of such service.
    34. Attach as Exhibit U copies of all contracts governing the terms
by which persons may subscribe to the security-based swap data
repository services, securities information processor services, and any
ancillary services provided by the applicant. To the extent that form
contracts are used by the applicant, submit a sample of each type of
form contract used.
    35. Attach as Exhibit V a description of any specifications,
qualifications, or other criteria that limit, are interpreted to limit,
or have the effect of limiting access to or use of any security-based
swap data repository or securities information processor services
offered or data maintained by the applicant and state the reasons for
imposing such specifications, qualifications, or other criteria.
    36. Attach as Exhibit W any specifications, qualifications, or
other criteria required of persons who supply security-based swap
information to the applicant for collection, maintenance, processing,
preparing for distribution, and publication by the applicant or of
persons who seek to connect to or link with the applicant.
    37. Attach as Exhibit X any specifications, qualifications, or
other criteria required of any person, including, but not limited to,
regulators, market participants, market infrastructures, venues from
which data could be submitted to the applicant, and third party service
providers, who requests access to data maintained by the applicant.
    38. Attach as Exhibit Y policies and procedures implemented by the
applicant to review any prohibition or limitation of any person with
respect to access to services offered or data maintained by the
applicant and to grant such person access to such services or data if
such person has been discriminated against unfairly.

EXHIBITS--OTHER POLICIES AND PROCEDURES

    39. Attach as Exhibit Z policies and procedures implemented by the
applicant to protect the privacy of any and all security-based swap
transaction information that the applicant receives from a market
participant or any registered entity.
    40. Attach as Exhibit AA a description of safeguards, policies, and
procedures implemented by the applicant to prevent the misappropriation
or misuse of (a) any confidential information received by the
applicant, including, but not limited to, trade data, position data,
and any nonpublic personal information about a market participant or
any of its customers; (b) material, nonpublic information; and/or (c)
intellectual property by applicant or any person associated with the
applicant for their personal benefit or the benefit of others.
    41. Attach as Exhibit BB policies and procedures implemented by the
applicant regarding its use of the security-based swap transaction
information that it receives from a market participant, any registered
entity, or any person for non-commercial and/or commercial purposes.
    42. Attach as Exhibit CC procedures and a description of facilities
of the applicant for effectively resolving disputes over the accuracy
of the transaction data and positions that are recorded in the
security-based swap data repository.
    43. Attach as Exhibit DD policies and procedures relating to the
applicant's calculation of positions.
    44. Attach as Exhibit EE policies and procedures implemented by the
applicant to prevent any provision in a

valid security-based swap from being invalidated or modified through
the procedures or operations of the applicant.
    45. Attach as Exhibit FF a plan to ensure that the transaction data
and position data that are recorded in the applicant continue to be
maintained after the applicant withdraws from registration as a
security-based swap data repository, which shall include procedures for
transferring the transaction data and position data to the Commission
or its designee (including another registered security-based swap data
repository).
    46. Attach as Exhibit GG all of the policies and procedures
required under Regulation SBSR.
    47. If the applicant has a rulebook, then the applicant may attach
the rulebook as Exhibit HH.

EXHIBIT--LEGAL OPINION

    48. If the applicant is a non-resident security-based swap data
repository, then attach as Exhibit II an opinion of counsel that the
security-based swap data repository can, as a matter of law, provide
the Commission with prompt access to the books and records of such
security-based swap data repository and that the security-based swap
data repository can, as a matter of law, submit to onsite inspection
and examination by the Commission.

    By the Commission.
    Dated: February 11, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-03127 Filed 3-18-15; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 124 (Tuesday, June 28, 2011)]
[Notices]
[Pages 37814-37815]
[FR Doc No: 2011-16090]

-----------------------------------------------------------------------

DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

[Docket No. FDA-2011-N-0481]

Agency Information Collection Activities; Proposed Collection;
Comment Request; New Animal Drugs for Investigational Uses

AGENCY: Food and Drug Administration, HHS.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Food and Drug Administration (FDA) is announcing an
opportunity for public comment on the proposed collection of certain
information by the Agency. Under the Paperwork Reduction Act of 1995
(the PRA), Federal Agencies are required to publish notice in the
Federal Register concerning each proposed collection of information,
including each proposed extension of an existing collection of
information, and to allow 60 days for public comment in response to the
notice. This notice solicits comments on the reporting and
recordkeeping requirements for ``New Animal Drugs for Investigational
Uses.''

DATES: Submit electronic or written comments on the collection of
information by August 29, 2011.

ADDRESSES: Submit electronic comments on the collection of information
to http://www.regulations.gov. Submit written comments on the
collection of information to the Division of Dockets Management (HFA-
305), Food and Drug Administration, 5630 Fishers Lane, rm. 1061,
Rockville, MD 20852. All comments should be identified with the docket
number found in brackets in the heading of this document.

FOR FURTHER INFORMATION CONTACT: Juanmanuel Vilela, Office of
Information Management, Food and Drug Administration, 1350 Piccard Dr.,
PI50-400B, Rockville, MD 20850,<PHONE_NUMBER>,
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Under the PRA (44 U.S.C. 3501-3520), Federal
Agencies must obtain approval from the Office of Management and Budget
(OMB) for each collection of information they conduct or sponsor.
``Collection of information'' is defined in 44 U.S.C. 3502(3) and 5 CFR
1320.3(c) and includes Agency requests or requirements that members of
the public submit reports, keep records, or provide information to a
third party. Section 3506(c)(2)(A) of the PRA (44 U.S.C. 3506(c)(2)(A))
requires Federal Agencies to provide a 60-day notice in the Federal
Register concerning each proposed collection of information, including
each proposed extension of an existing collection of information,
before submitting the collection to OMB for approval. To comply with
this requirement, FDA is publishing notice of the proposed collection
of information set forth in this document.
    With respect to the following collection of information, FDA
invites comments on these topics: (1) Whether the proposed collection
of information is necessary for the proper performance of FDA's
functions, including whether the information will have practical
utility; (2) the accuracy of FDA's estimate of the burden of the
proposed collection of information, including the validity of the
methodology and assumptions used; (3) ways to enhance the quality,
utility, and clarity of the information to be collected; and (4) ways
to minimize the burden of the collection of information on respondents,
including through the use of automated collection techniques, when
appropriate, and other forms of information technology.

New Animal Drugs for Investigational Uses--21 CFR Part 511 (OMB Control
Number 0910-0117--Extension)

    FDA has the authority under the Federal Food, Drug, and Cosmetic
Act (the FD&C Act) to approve new animal drugs. Section 512(j) of the
FD&C Act (21 U.S.C. 360b(j)) authorizes FDA to issue regulations
relating to the investigational use of new animal drugs. The
regulations setting forth the conditions for investigational use of new
animal drugs have been codified at part 511 (21 CFR part 511). If the
new animal drug is only for tests in vitro or in laboratory research
animals, the person distributing the new animal drug must maintain
records showing the name and post office address of the expert or
expert organization to whom it is shipped and the date, quantity, and
batch or code mark of each shipment and delivery for a period of 2
years after such shipment or delivery. Before shipping a new animal
drug for clinical investigations in animals, a sponsor must submit to
FDA a Notice of Claimed Investigational Exemption (NCIE). The NCIE must
contain, among other things, the following specific information: (1)
Identity of the new animal drug, (2) labeling, (3) statement of
compliance of any non-clinical laboratory studies with good laboratory
practices, (4) name and address of each clinical investigator, (5) the
approximate number of animals to be treated or amount of new animal
drug(s) to be shipped, and (6)

information regarding the use of edible tissues from investigational
animals. Part 511 also requires that records be established and
maintained to document the distribution and use of the investigational
drug to assure that its use is safe, and that the distribution is
controlled to prevent potential abuse. The Agency uses these required
records under its Bio-Research Monitoring Program to monitor the
validity of the studies submitted to FDA to support new animal drug
approval and to assure that proper use of the drug is maintained by the
investigator.
    Investigational new animal drugs are used primarily by drug
industry firms, academic institutions, and the government.
Investigators may include individuals from these entities as well as
research firms and members of the medical professional. Respondents to
this collection of information are the persons who use new animal drugs
investigationally.

                                 Table 1--Estimated Annual Reporting Burden \1\
----------------------------------------------------------------------------------------------------------------
                                                     Number of                        Average
           21 CFR Part               Number of     responses per   Total annual     burden per      Total hours
                                    respondents     respondent       responses       response
----------------------------------------------------------------------------------------------------------------
511.1(b)(4).....................             206            6.01           1,238               1           1,238
511.1(b)(5).....................             206             .34              70               8             560
511.1(b)(6).....................             206             .01               2               1               2
511.1(b)(8) (ii)................             206             .07              15               2              30
511.1(b)(9).....................             206             .07              15               8             120
                                 -------------------------------------------------------------------------------
    Total.......................  ..............  ..............  ..............  ..............           1,950
----------------------------------------------------------------------------------------------------------------
\1\ There are no capital costs or operating and maintenance costs associated with this collection of
  information.

                                 Table 2--Estimated Annual Recordkeeping Burden
----------------------------------------------------------------------------------------------------------------
                                                     Number of                        Average
           21 CFR Part               Number of      records per    Total annual     burden per      Total hours
                                   recordkeepers   recordkeeper       records      recordkeeping
----------------------------------------------------------------------------------------------------------------
511.1(a)(3).....................             206            2.30             473               1             473
511.1(b)(3).....................             206            6.01            1238               1           1,238
511.1(b)(7)(ii).................             206            6.01            1238             3.5           4,333
511.1(b)(8)(i)..................             206            6.01            1238             3.5           4,333
                                 -------------------------------------------------------------------------------
    Total.......................  ..............  ..............  ..............  ..............          10,377
----------------------------------------------------------------------------------------------------------------
\1\ There are no capital costs or operating and maintenance costs associated with this collection of
  information.

    The estimate of the time required for reporting requirements,
record preparation, and maintenance for this collection of information
is based on Agency communication with industry. Based on the number of
sponsors subject to animal drug user fees, FDA estimates that there are
206 respondents. We use this estimate consistently throughout the table
and calculate the ``No. of Responses per Respondent'' by dividing the
total annual responses by number of respondents. Additional information
needed to make a final calculation of the total burden hours (i.e., the
number of respondents, the number of recordkeepers, the number of NCIEs
received, etc.) is derived from Agency records.

    Dated: June 22, 2011.
Leslie Kux,
Acting Assistant Commissioner for Policy.
[FR Doc. 2011-16090 Filed 6-27-11; 8:45 am]
BILLING CODE 4160-01-P