DTCC Can Challenge CFTC Swap Data Reporting Rule.

On March 10th, the U.S. Supreme Court granted the writ of certiorari in Public Employees Retirement System of Mississippi v. IndyMacMBS, Inc. to address the Second Circuit's opinion that held that Section 13 of the Securities Act of 1933 establishes a statute of repose, rather than a statute of limitations, and cannot be subject to American Pipe tolling. See Supreme Court Questions Presented.


DTCC Can Challenge CFTC Swap Data Reporting Rule.

On March 10th, the U.S. District Court for the District of Columbia allowed two counts of the Depository Trust & Clearing Corporation's ("DTCC") challenge to a portion of the CFTC's swap data reporting rules to proceed. DTCC claims that CFTC rules permitting derivatives clearing organizations ("DCO") to require that cleared swap data be reported to the DCO's affiliated swap data repository violates the Dodd-Frank Act and are an anti-competitive tying arrangement. DTCC Data Repository (U.S.), LLC v. CFTC.DTCC Can Challenge CFTC Swap Data Reporting Rule.