§5472 Common framework for designated clearing entity risk management

Summary

The Commodity Futures Trading Commission (CFTC), the Securities and Exchange Commission (SEC), and the Board of Governors must work together to create joint programs for supervising risk at designated clearing entities. Within one year after July 21, 2010, the CFTC, the SEC, and the Board must send a joint report to the Committee on Banking, Housing, and Urban Affairs and the Committee on Agriculture, Nutrition, and Forestry of the Senate, and the Committee on Financial Services and the Committee on Agriculture of the House of Representatives. The report must give recommendations on making oversight more consistent between the CFTC and SEC, strengthening risk management at clearing entities, improving regulators’ risk oversight, and helping regulators monitor how clearing-entity risk management could affect U.S. financial stability.