Regulatory Alerts2020-05-14 | 2020-07905Added · Updated
Definition of Covered Clearing Agency
The Securities and Exchange Commission adopted final rules amending the definition of covered clearing agency to include any registered clearing agency providing central counterparty or central securities depository services. These amendments expand the application of enhanced operational and risk management standards under Rule 17Ad-22(e) to all entities performing these critical functions. The Commission also updated definitions for central securities depository services and sensitivity analysis while declining to adopt a proposed definition for securities settlement systems.
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