Trendpublic

💰NSCC Proposes to Remove Other Transactions Charge - Business Impact

The Securities and Exchange Commission (SEC) has received a proposal from the National Securities Clearing Corporation (NSCC) to eliminate the Other Transactions Charge in its rules. This move aims to align fees with actual market risks and enhance the efficiency of securities transactions conducted by NSCC Members, benefiting overall market participation.

⏱️NSCC Proposes Enhancements to ACATS Account Transfer Process

The SEC published a notice regarding the NSCC's proposed rule change to enhance the Automated Customer Account Transfer Service (ACATS). The proposal aims to improve efficiency by eliminating the Settle Prep Day and the second day of the pending acknowledgment process for mutual fund transfers. This aims to expedite account transfers and align processes with the T+1 settlement cycle, enhancing overall transaction efficiency.

📈NSCC Proposes Rule Change to Decommission Exemptions and Accounts

The NSCC has proposed a rule change to decommission Level 2 Exemptions and Fully-Paid-For Accounts in its Continuous Net Settlement (CNS) system. This move aims to streamline operations and allocate resources more effectively, identifying the functionalities as underutilized amidst ongoing modernization efforts.

⚖️Proposed Rule Change to Disruption Rules by NSCC

The Securities and Exchange Commission has published a notice concerning the proposed amendment to the Disruption Rules of the National Securities Clearing Corporation. This amendment aims to update critical definitions and streamline operational procedures affecting security transactions, with the goal of enhancing compliance and risk management practices within financial markets.

📊NSCC to Mandate Legal Entity Identifier for Membership Applications

The National Securities Clearing Corporation (NSCC) is proposing a rule change requiring all applicants and current members to obtain and maintain a Legal Entity Identifier (LEI). The objective is to enhance data quality and streamline operational processes, thereby improving risk management and compliance across its participant base.

📊Proposed Rule Change for NSCC's Recovery and Wind-Down Plan

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.

📈NSCC Proposed Changes to Intraday Margin Collection Rules

The SEC has published a notice regarding a proposed rule change by the NSCC aimed at enhancing the collection of intraday margin. The amendments seek to establish new requirements for monitoring intraday exposures and revising margin call processes, improving transparency and compliance measures under existing clearing agency standards.

📈Proposed Amendments to NSCC Recovery and Wind-Down Plan

The Securities and Exchange Commission has published notice of the National Securities Clearing Corporation's proposed amendments to its Recovery and Wind-Down Plan. These amendments are aimed at reflecting recent business developments, enhancing clarity, and ensuring effective risk management practices in maintaining continuous critical services essential for market stability. The plan outlines strategies for recovery and orderly wind-down of operations under stress scenarios.

📈SEC Announces NSCC Rule Change for CNS Securities Receipt