📈Proposed Rule Change on Participant System Disruption by FICC
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing of Proposed Rule Change Relating to a Participant System Disruption
Summary
The Securities and Exchange Commission has published a notice regarding proposed amendments to the Fixed Income Clearing Corporation's Disruption Rules. These changes aim to streamline procedures for managing significant system disruptions affecting DTCC Systems Participants, enhancing compliance mechanisms and operational risk management within the financial services industry.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule changes by the Fixed Income Clearing Corporation regarding "Participant System Disruption" directly involve compliance and regulatory requirements that all DTCC Systems Participants must adhere to. These changes impose new notification and reconnection obligations, impacting operational procedures and risk management strategies for businesses involved in securities transactions.