📈SEC's Proposed Rule Changes Impacting Financial Clearing Agencies
Self-Regulatory Organizations; The Depository Trust Company; Fixed Income Clearing Corporation; and National Securities Clearing Corporation; Notice of Designation of Longer Period for Commission Action on Proceedings To Determine Whether To Approve or Disapprove Proposed Rule Changes, as Modified by Amendments No. 1, Relating to a Participant System Disruption
Summary
The SEC has announced the designation of a longer period for reviewing proposed rule changes related to system disruptions by the Depository Trust Company, Fixed Income Clearing Corporation, and National Securities Clearing Corporation. Comments have been received, and the Commission emphasizes the need for sufficient time to evaluate the changes before approval or disapproval.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The document outlines proposed rule changes affecting the Depository Trust Company, the Fixed Income Clearing Corporation, and the National Securities Clearing Corporation, indicating potential regulatory compliance challenges and impacts on operational procedures for financial entities. This may affect business operations, financial reporting, and risk management strategies.