Hi Tam.  Thanks for the link which allegedly falsified my claim that as of early 2005 it was extremely unclear who in the federal bureaucracy rgulated the DTCC. But guess what: When entered into the Wayback Machine, you know what we learn about your link? That page went live in late 2007.

Sorry. Thanks for playing.

I happen to remember that period in 2007: the DTCC went from telling state regulators that DTCC would not respond to subpoenas because it was federally regulated, and telling federal regulators that they did not have jurisdiction, to claiming that, Yes, DTCC had been regulated by the SEC all along.

Now hear is the funny part: as of late 2008, the SEC was maintaining in close-door meetings that, "Yes, the SEC does regulate the DTCC, but no, we don't have the power to compel them to produce or publish FTD data in a timely fashion. We regulate the DTCC, but cannot compel them."