Regulatory Alerts2014-03-26 | 2014-05806Added
Standards for Covered Clearing Agencies
The Securities and Exchange Commission proposes to amend Rule 17Ad-22 and add Rule 17Ab2-2 to establish comprehensive operational, governance, and risk management standards for registered clearing agencies designated as covered clearing agencies. These proposed rules implement requirements from the Clearing Supervision Act and align with international standards set by the CPSS-IOSCO to enhance the safety and efficiency of the U.S. financial market infrastructure. The proposal defines covered clearing agencies to include those designated as systemically important by the Financial Stability Oversight Council and those providing central counterparty services for security-based swaps.
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