🔒Proposed Rule Change for Fingerprint Processing at BOX Exchange
Self-Regulatory Organizations; BOX Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Change Its Procedure for Processing Fingerprints Under Exchange Rule 10080 (Fingerprint Based Background Checks of Exchange Employees and Independent Contractors and Other Service Providers)
Summary
BOX Exchange LLC proposes changes to its fingerprint-based background check procedures to include a Live-Scan electronic system for enhanced security. This change aims to streamline compliance with federal regulations and improve the effectiveness of background checks for employees and independent contractors. The new system aligns with practices adopted by other national securities exchanges, ensuring the safety and security of Exchange operations.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The text outlines a regulatory change in how BOX Exchange LLC processes fingerprint-based background checks for employees and contractors, directly affecting compliance requirements and operational procedures for businesses within the financial sector. Adopting a Live-Scan electronic system enhances security protocols and fulfills legal obligations under the Dodd-Frank Act.