7 Apr 2025
📈FICC Proposes Changes to Recovery and Wind-Down Plans
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Recovery and Wind-Down Plan
Summary
The SEC has published a notice for the proposed amendments to the Recovery and Wind-Down Plan by the Fixed Income Clearing Corporation (FICC). These amendments reflect recent business developments, improve clarity, and ensure compliance with regulatory requirements essential for maintaining operations and services during potential recovery scenarios.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change amends the Recovery and Wind-Down Plan, impacting financial institutions reliant on FICC for clearance and settlement, thus mandating compliance with updated regulatory standards. This could lead to adjustments in risk management practices and operational strategies, affecting business continuity.