📊Proposed Rule Change for NSCC's Recovery and Wind-Down Plan
Self-Regulatory Organizations; National Securities 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 the National Securities Clearing Corporation's proposed amendments to its Recovery and Wind-Down Plan. This update aims to meet new regulatory requirements outlined in Exchange Act Rule 17ad-26, ensuring the continuity and effectiveness of its financial services during recovery scenarios. The proposed changes enhance clarity and compliance standards for the clearing agency's operations.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The document outlines significant regulatory changes affecting the National Securities Clearing Corporation's recovery and wind-down plan, which are crucial for businesses involved in securities. Compliance with the new Exchange Act Rule 17ad-26 imposes obligations on clearing agencies that directly impact operational continuity and risk management for member firms.