Regulatory Alerts2024-11-18 | 2024-25570Added
Covered Clearing Agency Resilience and Recovery and Orderly Wind-Down Plans
The Securities and Exchange Commission adopted final rules amending the Covered Clearing Agency Standards to strengthen risk management requirements for intraday margin collection and margin system inputs. The amendments require covered clearing agencies to monitor intraday exposures continuously, make margin calls as frequently as warranted, and maintain backup procedures for substantive data inputs. Additionally, the Commission established a new rule mandating specific elements for recovery and orderly wind-down plans, including planning scenarios, triggers, tools, and board approval processes.
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