Amended Order Designating the Provider of Legal Entity Identifiers to Be Used in Recordkeeping and Swap Data Reporting Pursuant to the Commission's Regulations, 38954-38956 [2013-15477]
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38954
Federal Register / Vol. 78, No. 125 / Friday, June 28, 2013 / Notices
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[FR Doc. 2013–15513 Filed 6–27–13; 8:45 am]
BILLING CODE 6353–01–P
COMMODITY FUTURES TRADING
COMMISSION
Amended Order Designating the
Provider of Legal Entity Identifiers to
Be Used in Recordkeeping and Swap
Data Reporting Pursuant to the
Commission’s Regulations
Commodity Futures Trading
Commission.
ACTION: Order.
AGENCY:
The Commodity Futures
Trading Commission (CFTC) has issued
an Amended Order expanding, through
mutual acceptance by international
regulators, the list of Legal Entity
Identifiers (LEIs) that can be used by
registered entities and swap
counterparties in complying with
CFTC’s swap data reporting regulations
once the conditions provided in the
Amended Order are fulfilled. The
Amended Order revises CFTC’s order of
July 23, 2012, which directed all
registered entities and swap
counterparties required by CFTC rules
to use LEIs in swap recordkeeping and
swap data reporting to use LEIs
provided by DTCC–SWIFT, the utility
designated by the CFTC as the provider
of LEIs until establishment of the global
LEI system.
FOR FURTHER INFORMATION CONTACT:
David Taylor, Associate Director,
Division of Market Oversight, 202–418–
5488, dtaylor@cftc.gov; or Srini
Bangarbale, Chief Data Officer, Office of
Data and Technology, 202–418–5315,
sbangarbale@cftc.gov; Commodity
Futures Trading Commission, Three
Lafayette Centre, 1155 21st Street NW.,
Washington, DC 20581.
SUPPLEMENTARY INFORMATION: On July
23, 2012, the Commodity Futures
Trading Commission (‘‘Commission’’)
issued an order (‘‘Order’’) 1 pursuant to
section 21(b) of the Commodity
Exchange Act (‘‘CEA’’ or ‘‘the Act’’) and
to part 45 of the Commission’s
regulations, designating DTCC–SWIFT
SUMMARY:
1 See
E:\FR\FM\28JNN1.SGM
77 FR 53870 (Sept. 4, 2012).
28JNN1
Federal Register / Vol. 78, No. 125 / Friday, June 28, 2013 / Notices
as the provider of Legal Entity
Identifiers (‘‘LEIs’’), to be known as
CFTC Interim Compliant Identifiers
(‘‘CICIs’’) until establishment of the
global LEI system or further action by
the Commission, to be used in
recordkeeping and swap data reporting
pursuant to parts 45 and 46 of the
Commission’s regulations. The Order
directed registered entities and swap
counterparties subject to the
Commission’s jurisdiction to use CICIs
provided by DTCC–SWIFT to comply
with the LEI requirements of parts 45
and 46 of the Commission’s regulations.
As stated in the preamble to the
Commission’s Adopting Release for part
45:
tkelley on DSK3SPTVN1PROD with NOTICES
The Commission recognizes that optimum
effectiveness of LEIs as a tool for achieving
the systemic risk mitigation, transparency,
and market protection goals of the DoddFrank Act—goals shared by financial
regulators world-wide—would come from
creation of a global LEI, on an international
basis, that is capable of becoming the single
international standard for unique
identification of legal entities across the
world financial sector.2
As recognized in the Order and in part
45 of the Commission’s regulations, the
Commission is participating in an
international process to establish a
global LEI system. Since the Order was
issued, the international process has
moved forward significantly, and
establishment of the global LEI system
has begun. These developments are
summarized below.
• Regulatory oversight for the global
LEI system is now provided by an
international Regulatory Oversight
Committee (‘‘ROC’’), established in
January 2013. The Commission is a
charter member of the ROC and of its
Executive Committee.
• The ROC has determined that the
global LEI system will be federated in
nature, and will include a private sector
Central Operating Unit (‘‘COU’’) and
multiple Local Operating Units
(‘‘LOUs’’). Under the auspices of the
ROC, a foundation is being established
in Switzerland to provide the COU. The
COU will coordinate the system’s
multiple LOUs, which will issue LEIs.
• As part of the establishment of the
global LEI system under the auspices of
the ROC, seven identifier-issuing
utilities or pre-LOUs, including the CICI
Utility operated by DTCC–SWIFT and
designated in the Order, have each been
sponsored to the ROC by a ROC member
authority that exercises oversight of the
LOU, and have been given an identifier
prefix for use in ensuring the
uniqueness of all identifiers issued by
2 See
77 FR 2136 (Jan. 13, 2012) at 2163.
VerDate Mar<15>2010
19:17 Jun 27, 2013
Jkt 229001
any LOU or pre-LOU. A pre-LOU
located in Germany, operated by WM
Datenservice and sponsored to the ROC
by Bafin, Germany’s Federal Financial
Supervisory Authority, has now begun
issuing identifiers known as General
Entity Identifiers (‘‘GEIs’’), which the
Commission anticipates will become
LEIs in the global LEI system. The
Commission anticipates that, in the next
few months, other pre-LOUs sponsored
to the ROC by a ROC member with
oversight authority may also start
issuing identifiers that will become LEIs
in the global system.
• As stated in the Order, the
Commission anticipates that the CICI
Utility operated by DTCC–SWIFT and
designated in the Order will become one
of the LOUs in the global system, and
that CICIs will become LEIs in the global
system.
The Commission understands that
OTC derivatives data reporting in the
European Union is scheduled to begin
in September 2013, pursuant to
reporting requirements under the
European Market Infrastructure
Regulation (‘‘EMIR’’) issued by the
European Securities and Markets
Authority (‘‘ESMA’’).
Once swap data reporting is required
under both CFTC rules and the rules of
another jurisdiction or jurisdictions, as
will be the case when ESMA’s rules take
effect, cooperation by the authorities in
question with respect to the LEIs used
in such reporting will be required to
preserve the essential Principle of
Uniqueness for LEIs, already adopted by
the ROC and mandated by section
45.6(b)(1) of the Commission’s
regulations. Since the identifiers issued
by pre-LOUs recognized by the ROC,
including WM Datenservice, the CICI
Utility, and eventually others, will
become LEIs in the global LEI system,
mutual acceptance, by each ROC
member that mandates use of LEIs in
data reporting, of the identifiers issued
by each ROC-certified pre-LOU, is the
only way to avoid violation of the
Uniqueness Principle resulting from
issuance of multiple LEIs to a single
entity.
One example of this problem would
be the case of a German hedge fund that
obtains an identifier from WM
Datenservice, and later becomes a
counterparty to a swap with a U.S. swap
dealer that must be reported to a swap
data repository under CFTC rules. If the
CFTC does not permit the WM
Datenservice identifier of the hedge
fund to be reported as part of the
primary economic terms data reported
for that swap, but requires that a CICI
be reported for the hedge fund, it would
be necessary for the hedge fund to
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Sfmt 4703
38955
obtain a CICI in addition to its WM
Datenservice identifier.
To address this issue, and facilitate
the ongoing establishment of the global
LEI system, the Chair and Vice Chairs of
the ROC have asked the Commission
and ESMA to each move as promptly as
possible to take whatever action is
necessary to provide for mutual
acceptance, for use in data reporting
required by CFTC rules or ESMA rules,
of the pre-LEIs issued by either the CICI
Utility or WM Datenservice. The request
notes that the ROC previously has
publicly identified, as minimum
requirements for global acceptance of
pre-LEIs issued by a pre-LOU, both
issuance by the pre-LOU of pre-LEIs that
comply with ISO Standard 17442 Legal
Entity Identifier, and compliance by the
pre-LOU with the existing principles for
the global LEI system and the existing
standards for pre-LOUs adopted by the
ROC. The Chair and Vice Chairs also
informed the Commission that, at the
ROC’s June 2013 meeting in Mexico
City, the ROC anticipates finalizing a
framework for global acceptance of preLEIs assigned by a pre-LOU that is
sponsored by a ROC member who
assures the ROC that the pre-LOU meets
specified principles regarding
compliance with the LEI standard,
technical capacity, and agreement to
adhere to ROC high level principles for
the system. The Commission
understands that upon such action by
the ROC, such globally accepted preLEIs will henceforth be known as LEIs.
Bafin has notified the Commission,
and Commission staff have verified, on
the basis of a live demonstration
provided by WM Datenservice to
Commission staff and to other ROC
members including Bafin, and of a
Memorandum of Understanding
adopted by DTCC–SWIFT and WM
Datenservice to provide for cooperation
and coordination between them with
respect to adherence to the principles
adopted by the ROC for the global LEI
system, that: (1) The GEIs issued by WM
Datenservice comply with ISO Standard
17442 Legal Entity Identifier; and (2)
WM Datenservice complies with the
existing principles for the global LEI
system and the existing standards for
pre-LOUs adopted by the ROC.
The Commission anticipates, on the
basis of discussions between members
of the ROC including representatives of
ESMA and of the Commission, that
ESMA will, on a timely basis, take the
action necessary to provide for mutual
acceptance by ESMA and the CFTC of
both the pre-LEIs (now known as CICIs)
issued by DTCC–SWIFT and the preLEIs (now known as GEIs) issued by
WM Datenservice, for data reporting
E:\FR\FM\28JNN1.SGM
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tkelley on DSK3SPTVN1PROD with NOTICES
38956
Federal Register / Vol. 78, No. 125 / Friday, June 28, 2013 / Notices
required under either Commission
regulations or ESMA’s EMIR
regulations.
In light of the foregoing, it is ordered,
pursuant to section 21(b) of the
Commodity Exchange Act and section
45.6 of the Commission’s regulations,
that paragraph 2 of the Order is
amended by striking the existing
paragraph 2 and inserting the following:
‘‘2. To comply with the legal entity
identifier requirements of parts 45 and
46 of the Commission’s regulations:
a. Effective immediately upon (1)
issuance of this Amended Order, and (2)
publication on the Commission’s Web
site by the Commission’s Chief
Information Officer of a notice that
ESMA has informed the Commission
that LEIs issued by DTCC–SWIFT are
accepted for data reporting under
ESMA’s EMIR regulations, registered
entities and swap counterparties subject
to the Commission’s jurisdiction shall
use either LEIs (currently known as
CFTC Interim Compliant Identifiers or
CICIs) provided by DTCC–SWIFT, or
LEIs (currently known as General Entity
Identifiers or GEIs) provided by WM
Datenservice. Registered entities and
swap counterparties may contact DTCC–
SWIFT at https://www.ciciutility.org,
and may contact WM Datenservice at
https://www.geiportal.org.
b. Prior to adoption by the ROC of
standards for approval of pre-LOUs and
the LEIs issued by approved pre-LOUs
as globally acceptable, registered
entities and swap counterparties subject
to the Commission’s jurisdiction may
use LEIs provided by another pre-LOU
that has been issued an identifier prefix
by the ROC and is sponsored as a preLOU by a member of the ROC, in lieu
of using LEIs provided by DTCC–SWIFT
or WM Datenservice, but may do so only
after the Commission’s Chief
Information Officer publishes on the
Commission’s Web site a notice that: (1)
Commission staff have verified, on the
basis of a demonstration provided to
Commission staff by the pre-LOU, and
the ROC member sponsoring the preLOU has notified the Commission, that
the pre-LOU issues LEIs that are
compliant with ISO Standard 17442
Legal Entity Identifier, and that the preLOU complies with the existing
principles for the global LEI system and
the existing standards for pre-LOUs
adopted by the ROC; and that (2) LEIs
issued by DTCC–SWIFT are accepted for
data reporting under the law of any
jurisdiction that accepts the LEIs issued
by the pre-LOU for data reporting.
c. After the ROC has adopted
standards for approval of pre-LOUs and
the LEIs issued by them as globally
acceptable, and has also approved
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19:17 Jun 27, 2013
Jkt 229001
DTCC–SWIFT as a globally acceptable
pre-LOU and the LEIs issued by DTCC–
SWIFT as globally acceptable LEIs,
registered entities and swap
counterparties subject to the
Commission’s jurisdiction may use LEIs
provided by DTCC–SWIFT, WM
Datenservice, or any other pre-LOU
approved by the ROC as globally
acceptable and as issuing globally
acceptable LEIs. Pursuant to this
paragraph, use of LEIs from pre-LOUs
other than DTCC–SWIFT or WM
Datenservice may commence only after
the Commission’s Chief Information
Officer publishes on the Commission’s
Web site a notice that such LEIs and
such LOUs have been approved by the
ROC as globally acceptable.
d. Effective immediately upon ROC
approval of the LEIs (currently known
as CICIs) issued by DTCC–SWIFT as
globally acceptable, the LEIs issued by
DTCC–SWIFT shall be known as LEIs
and not as CICIs. For this purpose, CICIs
previously issued by DTCC–SWIFT
shall be named and referred to as LEIs,
but shall not be reissued.
e. As provided in section 45.6(b)(1) of
the Commission’s regulations, registered
entities and swap counterparties subject
to the Commission’s jurisdiction shall
be identified in all swap recordkeeping
and swap data reporting by a single LEI.
Authority: 7 U.S.C. 24a(b).
Issued in Washington, DC, on June 7, 2013,
by the Commission.
Melissa D. Jurgens,
Secretary of the Commission.
Appendix to Amended Order
Designating the Provider of Legal Entity
Identifiers To Be Used in
Recordkeeping and Swap Data
Reporting Pursuant to the
Commission’s Regulations—
Commission Voting Summary
On this matter, Chairman Gensler and
Commissioners Sommers, Chilton, O’Malia,
and Wetjen voted in the affirmative. No
Commissioner voted in the negative.
[FR Doc. 2013–15477 Filed 6–27–13; 8:45 am]
BILLING CODE 6351–01–P
DEPARTMENT OF DEFENSE
Department of the Army
Army Education Advisory
Subcommittee; Meeting Notice
Department of the Army, DoD.
Notice of open meeting.
AGENCY:
ACTION:
Under the provisions of the
Federal Advisory Committee Act of
1972 (5 U.S.C., Appendix, as amended),
the Government in the Sunshine Act of
SUMMARY:
PO 00000
Frm 00045
Fmt 4703
Sfmt 4703
1976 (5 U.S.C. 552b, as amended) and
41 CFR 102–3.150, the Department of
Defense announces that the following
Federal advisory committee meeting
will take place:
Name of Committee: Board of Visitors
(BoV), Defense Language Institute
Foreign Language Center Subcommittee.
Date: July 31, 2013 and August 1,
2013.
Time of Meeting: Approximately 7:45
a.m. through 4:30 p.m. Please allow
extra time for gate security for both
days.
Location: Defense Language Institute
Foreign Language Center and Presidio of
Monterey (DLIFLC & POM), Building
614, Conference Room, Monterey, CA
93944.
Purpose of the Meeting: The purpose
of the meeting is to provide an overview
of DLIFLC’s Foreign Language Program
to the BoV. In addition, the meeting will
involve administrative matters.
Proposed Agenda: Summary—July
31—Board administrative details and
orientation to DLIFLC class size and
DLIFLC foreign language potential.
August 1—The Board will be briefed on
items of interest to DLIFLC and BoV, if
applicable, and will have time to
compile observations pertaining to
agenda items on July 31 and August 1.
Deliberations leading to provisional
findings will be referred to the Army
Education Advisory Committee for
deliberation by the Committee under the
open-meeting rules.
FOR FURTHER INFORMATION CONTACT: For
information contact Dr. Robert
Savukinas, Sub-Committee’s Alternate
Designated Federal Officer: ATFL–APO,
Monterey, CA, 93944,
Robert.Savukinas@us.army.mil, (831)
242–5828.
SUPPLEMENTARY INFORMATION: Public’s
Accessibility to the Meeting: Pursuant to
5 U.S.C. 552b and 41 CFR 102–3.140
through 102–3.165, this meeting is open
to the public however, any member of
the public wishing to attend this
meeting should contact the
Subcommittee’s Alternate Designated
Federal Officer (see FOR FURTHER
INFORMATION CONTACT) at least ten
calendar days prior to the meeting for
information on base entry. Individuals
without a DoD Government Common
Access Card require an escort at the
meeting location. Seating is on a firstcome basis.
Filing Written Statement: Pursuant to
41 CFR 102.3.140(d), the Subcommittee
is not obligated to allow the public to
speak, however, any member of the
public, including interested
organizations, wishing to provide input
to the Subcommittee concerning the
E:\FR\FM\28JNN1.SGM
28JNN1
Agencies
[Federal Register Volume 78, Number 125 (Friday, June 28, 2013)]
[Notices]
[Pages 38954-38956]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-15477]
=======================================================================
-----------------------------------------------------------------------
COMMODITY FUTURES TRADING COMMISSION
Amended Order Designating the Provider of Legal Entity
Identifiers to Be Used in Recordkeeping and Swap Data Reporting
Pursuant to the Commission's Regulations
AGENCY: Commodity Futures Trading Commission.
ACTION: Order.
-----------------------------------------------------------------------
SUMMARY: The Commodity Futures Trading Commission (CFTC) has issued an
Amended Order expanding, through mutual acceptance by international
regulators, the list of Legal Entity Identifiers (LEIs) that can be
used by registered entities and swap counterparties in complying with
CFTC's swap data reporting regulations once the conditions provided in
the Amended Order are fulfilled. The Amended Order revises CFTC's order
of July 23, 2012, which directed all registered entities and swap
counterparties required by CFTC rules to use LEIs in swap recordkeeping
and swap data reporting to use LEIs provided by DTCC-SWIFT, the utility
designated by the CFTC as the provider of LEIs until establishment of
the global LEI system.
FOR FURTHER INFORMATION CONTACT: David Taylor, Associate Director,
Division of Market Oversight, 202-418-5488, dtaylor@cftc.gov; or Srini
Bangarbale, Chief Data Officer, Office of Data and Technology, 202-418-
5315, sbangarbale@cftc.gov; Commodity Futures Trading Commission, Three
Lafayette Centre, 1155 21st Street NW., Washington, DC 20581.
SUPPLEMENTARY INFORMATION: On July 23, 2012, the Commodity Futures
Trading Commission (``Commission'') issued an order (``Order'') \1\
pursuant to section 21(b) of the Commodity Exchange Act (``CEA'' or
``the Act'') and to part 45 of the Commission's regulations,
designating DTCC-SWIFT
[[Page 38955]]
as the provider of Legal Entity Identifiers (``LEIs''), to be known as
CFTC Interim Compliant Identifiers (``CICIs'') until establishment of
the global LEI system or further action by the Commission, to be used
in recordkeeping and swap data reporting pursuant to parts 45 and 46 of
the Commission's regulations. The Order directed registered entities
and swap counterparties subject to the Commission's jurisdiction to use
CICIs provided by DTCC-SWIFT to comply with the LEI requirements of
parts 45 and 46 of the Commission's regulations.
---------------------------------------------------------------------------
\1\ See 77 FR 53870 (Sept. 4, 2012).
---------------------------------------------------------------------------
As stated in the preamble to the Commission's Adopting Release for
part 45:
The Commission recognizes that optimum effectiveness of LEIs as a
tool for achieving the systemic risk mitigation, transparency, and
market protection goals of the Dodd-Frank Act--goals shared by
financial regulators world-wide--would come from creation of a
global LEI, on an international basis, that is capable of becoming
the single international standard for unique identification of legal
entities across the world financial sector.\2\
---------------------------------------------------------------------------
\2\ See 77 FR 2136 (Jan. 13, 2012) at 2163.
As recognized in the Order and in part 45 of the Commission's
regulations, the Commission is participating in an international
process to establish a global LEI system. Since the Order was issued,
the international process has moved forward significantly, and
establishment of the global LEI system has begun. These developments
are summarized below.
Regulatory oversight for the global LEI system is now
provided by an international Regulatory Oversight Committee (``ROC''),
established in January 2013. The Commission is a charter member of the
ROC and of its Executive Committee.
The ROC has determined that the global LEI system will be
federated in nature, and will include a private sector Central
Operating Unit (``COU'') and multiple Local Operating Units (``LOUs'').
Under the auspices of the ROC, a foundation is being established in
Switzerland to provide the COU. The COU will coordinate the system's
multiple LOUs, which will issue LEIs.
As part of the establishment of the global LEI system
under the auspices of the ROC, seven identifier-issuing utilities or
pre-LOUs, including the CICI Utility operated by DTCC-SWIFT and
designated in the Order, have each been sponsored to the ROC by a ROC
member authority that exercises oversight of the LOU, and have been
given an identifier prefix for use in ensuring the uniqueness of all
identifiers issued by any LOU or pre-LOU. A pre-LOU located in Germany,
operated by WM Datenservice and sponsored to the ROC by Bafin,
Germany's Federal Financial Supervisory Authority, has now begun
issuing identifiers known as General Entity Identifiers (``GEIs''),
which the Commission anticipates will become LEIs in the global LEI
system. The Commission anticipates that, in the next few months, other
pre-LOUs sponsored to the ROC by a ROC member with oversight authority
may also start issuing identifiers that will become LEIs in the global
system.
As stated in the Order, the Commission anticipates that
the CICI Utility operated by DTCC-SWIFT and designated in the Order
will become one of the LOUs in the global system, and that CICIs will
become LEIs in the global system.
The Commission understands that OTC derivatives data reporting in
the European Union is scheduled to begin in September 2013, pursuant to
reporting requirements under the European Market Infrastructure
Regulation (``EMIR'') issued by the European Securities and Markets
Authority (``ESMA'').
Once swap data reporting is required under both CFTC rules and the
rules of another jurisdiction or jurisdictions, as will be the case
when ESMA's rules take effect, cooperation by the authorities in
question with respect to the LEIs used in such reporting will be
required to preserve the essential Principle of Uniqueness for LEIs,
already adopted by the ROC and mandated by section 45.6(b)(1) of the
Commission's regulations. Since the identifiers issued by pre-LOUs
recognized by the ROC, including WM Datenservice, the CICI Utility, and
eventually others, will become LEIs in the global LEI system, mutual
acceptance, by each ROC member that mandates use of LEIs in data
reporting, of the identifiers issued by each ROC-certified pre-LOU, is
the only way to avoid violation of the Uniqueness Principle resulting
from issuance of multiple LEIs to a single entity.
One example of this problem would be the case of a German hedge
fund that obtains an identifier from WM Datenservice, and later becomes
a counterparty to a swap with a U.S. swap dealer that must be reported
to a swap data repository under CFTC rules. If the CFTC does not permit
the WM Datenservice identifier of the hedge fund to be reported as part
of the primary economic terms data reported for that swap, but requires
that a CICI be reported for the hedge fund, it would be necessary for
the hedge fund to obtain a CICI in addition to its WM Datenservice
identifier.
To address this issue, and facilitate the ongoing establishment of
the global LEI system, the Chair and Vice Chairs of the ROC have asked
the Commission and ESMA to each move as promptly as possible to take
whatever action is necessary to provide for mutual acceptance, for use
in data reporting required by CFTC rules or ESMA rules, of the pre-LEIs
issued by either the CICI Utility or WM Datenservice. The request notes
that the ROC previously has publicly identified, as minimum
requirements for global acceptance of pre-LEIs issued by a pre-LOU,
both issuance by the pre-LOU of pre-LEIs that comply with ISO Standard
17442 Legal Entity Identifier, and compliance by the pre-LOU with the
existing principles for the global LEI system and the existing
standards for pre-LOUs adopted by the ROC. The Chair and Vice Chairs
also informed the Commission that, at the ROC's June 2013 meeting in
Mexico City, the ROC anticipates finalizing a framework for global
acceptance of pre-LEIs assigned by a pre-LOU that is sponsored by a ROC
member who assures the ROC that the pre-LOU meets specified principles
regarding compliance with the LEI standard, technical capacity, and
agreement to adhere to ROC high level principles for the system. The
Commission understands that upon such action by the ROC, such globally
accepted pre-LEIs will henceforth be known as LEIs.
Bafin has notified the Commission, and Commission staff have
verified, on the basis of a live demonstration provided by WM
Datenservice to Commission staff and to other ROC members including
Bafin, and of a Memorandum of Understanding adopted by DTCC-SWIFT and
WM Datenservice to provide for cooperation and coordination between
them with respect to adherence to the principles adopted by the ROC for
the global LEI system, that: (1) The GEIs issued by WM Datenservice
comply with ISO Standard 17442 Legal Entity Identifier; and (2) WM
Datenservice complies with the existing principles for the global LEI
system and the existing standards for pre-LOUs adopted by the ROC.
The Commission anticipates, on the basis of discussions between
members of the ROC including representatives of ESMA and of the
Commission, that ESMA will, on a timely basis, take the action
necessary to provide for mutual acceptance by ESMA and the CFTC of both
the pre-LEIs (now known as CICIs) issued by DTCC-SWIFT and the pre-LEIs
(now known as GEIs) issued by WM Datenservice, for data reporting
[[Page 38956]]
required under either Commission regulations or ESMA's EMIR
regulations.
In light of the foregoing, it is ordered, pursuant to section 21(b)
of the Commodity Exchange Act and section 45.6 of the Commission's
regulations, that paragraph 2 of the Order is amended by striking the
existing paragraph 2 and inserting the following:
``2. To comply with the legal entity identifier requirements of
parts 45 and 46 of the Commission's regulations:
a. Effective immediately upon (1) issuance of this Amended Order,
and (2) publication on the Commission's Web site by the Commission's
Chief Information Officer of a notice that ESMA has informed the
Commission that LEIs issued by DTCC-SWIFT are accepted for data
reporting under ESMA's EMIR regulations, registered entities and swap
counterparties subject to the Commission's jurisdiction shall use
either LEIs (currently known as CFTC Interim Compliant Identifiers or
CICIs) provided by DTCC-SWIFT, or LEIs (currently known as General
Entity Identifiers or GEIs) provided by WM Datenservice. Registered
entities and swap counterparties may contact DTCC-SWIFT at https://www.ciciutility.org, and may contact WM Datenservice at https://www.geiportal.org.
b. Prior to adoption by the ROC of standards for approval of pre-
LOUs and the LEIs issued by approved pre-LOUs as globally acceptable,
registered entities and swap counterparties subject to the Commission's
jurisdiction may use LEIs provided by another pre-LOU that has been
issued an identifier prefix by the ROC and is sponsored as a pre-LOU by
a member of the ROC, in lieu of using LEIs provided by DTCC-SWIFT or WM
Datenservice, but may do so only after the Commission's Chief
Information Officer publishes on the Commission's Web site a notice
that: (1) Commission staff have verified, on the basis of a
demonstration provided to Commission staff by the pre-LOU, and the ROC
member sponsoring the pre-LOU has notified the Commission, that the
pre-LOU issues LEIs that are compliant with ISO Standard 17442 Legal
Entity Identifier, and that the pre-LOU complies with the existing
principles for the global LEI system and the existing standards for
pre-LOUs adopted by the ROC; and that (2) LEIs issued by DTCC-SWIFT are
accepted for data reporting under the law of any jurisdiction that
accepts the LEIs issued by the pre-LOU for data reporting.
c. After the ROC has adopted standards for approval of pre-LOUs and
the LEIs issued by them as globally acceptable, and has also approved
DTCC-SWIFT as a globally acceptable pre-LOU and the LEIs issued by
DTCC-SWIFT as globally acceptable LEIs, registered entities and swap
counterparties subject to the Commission's jurisdiction may use LEIs
provided by DTCC-SWIFT, WM Datenservice, or any other pre-LOU approved
by the ROC as globally acceptable and as issuing globally acceptable
LEIs. Pursuant to this paragraph, use of LEIs from pre-LOUs other than
DTCC-SWIFT or WM Datenservice may commence only after the Commission's
Chief Information Officer publishes on the Commission's Web site a
notice that such LEIs and such LOUs have been approved by the ROC as
globally acceptable.
d. Effective immediately upon ROC approval of the LEIs (currently
known as CICIs) issued by DTCC-SWIFT as globally acceptable, the LEIs
issued by DTCC-SWIFT shall be known as LEIs and not as CICIs. For this
purpose, CICIs previously issued by DTCC-SWIFT shall be named and
referred to as LEIs, but shall not be reissued.
e. As provided in section 45.6(b)(1) of the Commission's
regulations, registered entities and swap counterparties subject to the
Commission's jurisdiction shall be identified in all swap recordkeeping
and swap data reporting by a single LEI.
Authority: 7 U.S.C. 24a(b).
Issued in Washington, DC, on June 7, 2013, by the Commission.
Melissa D. Jurgens,
Secretary of the Commission.
Appendix to Amended Order Designating the Provider of Legal Entity
Identifiers To Be Used in Recordkeeping and Swap Data Reporting
Pursuant to the Commission's Regulations--Commission Voting Summary
On this matter, Chairman Gensler and Commissioners Sommers,
Chilton, O'Malia, and Wetjen voted in the affirmative. No
Commissioner voted in the negative.
[FR Doc. 2013-15477 Filed 6-27-13; 8:45 am]
BILLING CODE 6351-01-P