§ 242.822. Core Principle 5---Ability to obtain information.
275 words·~1 min read·
/us/cfr/t17/s§ 242.822·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)General. The security-based swap execution facility shall:
(1)Establish and enforce rules that will allow the facility to obtain any necessary information to perform any of the functions described in section 3D of the Act;
(2)Provide the information to the Commission on request; and
(3)Have the capacity to carry out such international information-sharing agreements as the Commission may require.
(b)Establish and enforce rules. A security-based swap execution facility shall establish and enforce rules that will allow the security-based swap execution facility to have the ability and authority to obtain sufficient information to allow it to fully perform its operational, risk management, governance, and regulatory functions and any requirements under this section, including the capacity to carry out international information-sharing agreements as the Commission may require.
(c)Collection of information. A security-based swap execution facility shall have rules that allow it to collect information on a routine basis, allow for the collection of non-routine data from its members, and allow for its examination of books and records kept by members on its facility.
(d)Provide information to the Commission. A security-based swap execution facility shall provide information in its possession to the Commission upon request, in a form and manner specified by the Commission.
(e)Information-sharing agreements. A security-based swap execution facility shall share information with other regulatory organizations, data repositories, and third-party data reporting services as required by the Commission or as otherwise necessary and appropriate to fulfill its regulatory and reporting responsibilities. Appropriate information-sharing agreements can be established with such entities, or the Commission can act in conjunction with the security-based swap execution facility to carry out such information sharing.