📊Proposed Amendments to MBSD Rule 33 by FICC Enhancing Flexibility
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend MBSD Rule 33 (Suspension of Rules in Emergency Circumstances)
Summary
The proposed rule change aims to amend MBSD Rule 33 to allow the Fixed Income Clearing Corporation to waive, suspend, or extend rules beyond emergency circumstances. The amendments intend to streamline operations while ensuring compliance and maintaining investor protections, enabling quicker responses to various market situations and promoting efficiency in securities transactions.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed amendment to MBSD Rule 33 modifies how FICC can manage rules during non-emergency situations. This impacts business operations by providing flexibility for waivers and suspensions without the need for strict emergency criteria or extensive reporting, thereby enhancing operational efficiency and risk management for businesses engaged in securities transactions.