20 Jun 2025
📊SEC Proposes Changes to ICC Default Management Procedures
Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change Relating to ICC's Clearing Participant Default Management Procedures & ICC Clearing Rules
Summary
The SEC is soliciting comments on ICE Clear Credit LLC's proposed revisions to its Default Management Procedures and Clearing Rules. The changes aim to enhance the efficiency, transparency, and accuracy of default management processes by automating key functions and removing outdated mechanisms, ultimately improving risk management capabilities.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed rule changes by the SEC concerning ICC's Default Management Procedures and Clearing Rules will require compliance from businesses operating in the financial sector. The emphasis on automating processes and eliminating direct transactions impacts operational protocols, likely necessitating adjustments in risk management and operational procedures.