Co-authored by Ross Pazzol and Blake J. Brockway.

The Commodity Futures Trading Commission issued a final interpretive statement to provide guidance to foreign regulators and swap data repositories (SDRs) regarding the confidentiality and indemnification provisions of Section 21(d) of the Commodity Exchange Act (CEA).

Under the interpretive statement, the confidentiality and indemnification provisions do not apply to data reported to a registered SDR that is also registered with or authorized by a foreign regulator with respect to data that has been reported to the SDR under foreign law. The CFTC further indicated that a foreign regulatory authority may obtain confidential data, without execution of a indemnification agreement, pursuant to the provisions of Section 8(e) of the CEA.

The interpretive statement is available here.