Regulatory Alerts2016-10-13 | 2016-23892Added
Definition of Covered Clearing Agency
The Securities and Exchange Commission proposes to amend the definition of 'covered clearing agency' under Rule 17Ad-22 to include registered clearing agencies providing central counterparty, central securities depository, or securities settlement system services. The Commission also introduces new definitions for 'securities settlement system' and 'central securities depository' while expanding the scope of 'sensitivity analysis' requirements to enhance risk management standards. These proposed amendments aim to align U.S. regulations with international financial market infrastructure principles and strengthen the regulatory framework for systemically important clearing agencies.
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