28 Apr 2025
📈FICC's Proposed Rule Change on Recovery and Wind-Down Plans
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing of Proposed Rule Change To Amend the Recovery and Wind-Down Plan To Satisfy the Requirements of Exchange Act Rule 17ad-26
Summary
The Securities and Exchange Commission has published a notice regarding FICC's proposed rule change aimed at amending its Recovery and Wind-Down Plan. This proposal is intended to meet compliance with new regulatory requirements, enhancing the clarity and effectiveness of the plan designed to maintain critical financial services during market stress scenarios.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule change by the Fixed Income Clearing Corporation (FICC) reflects compliance and regulatory requirements under Exchange Act Rule 17ad-26. This includes establishing recovery and wind-down plans relevant to financial market utilities, which have significant implications for business owners and executives dependent on FICC’s services.