Regulatory Alerts2023-03-15
Regulation Systems Compliance and Integrity
The U.S. Securities and Exchange Commission proposes amendments to Regulation Systems Compliance and Integrity that expand the “SCI entity” definition to include security-based swap data repositories, large broker-dealers, and exempt clearing agencies. The updated framework strengthens existing obligations by modernizing requirements for systems classification, third-party vendor management, cybersecurity protocols, and ongoing regulatory reviews. The Commission also requests public comment on extending these market infrastructure oversight mandates to significant-volume alternative trading systems and broker-dealers utilizing electronic or automated corporate debt and municipal securities trading.
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