📈Proposed FICC Rule Change Enhances Default Management Procedures
Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing of Proposed Rule Change To Modify the GSD Rulebook Relating to Default Management and Porting With Respect to Indirect Participant Activity
Summary
The Securities and Exchange Commission has published a proposal from the Fixed Income Clearing Corporation to modify its Government Securities Division Rulebook. The changes aim to enhance understanding of default management procedures and facilitate transfers of indirect participant activity, ultimately promoting greater financial stability and clarity within the securities market.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The content outlines a proposed rule change by the FICC affecting default management procedures and indirect participant activity, which directly impacts business compliance and regulatory assessments for firms involved in trading. Enhanced rules for defaults may affect financial stability and operational processes for businesses participating in securities transactions.