Esma still unable to access US repository data
Three years on, and despite efforts from US regulators and politicians, Europe's markets regulator is still barred from accessing data held by US repositories
Europe's markets regulator says it is still unable to access information held by US swap data repositories (SDRs) due to legal barriers in the Dodd-Frank Act – three years since the issue first came to the attention of regulators. The restriction could limit the regulator's ability to monitor systemic risk, as well as its capacity to gather data to define a liquid market under Europe's new trading rules.
Dodd-Frank requires foreign regulators to offer indemnities to US SDRs before they can
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