On April 9, 2020, the SEC adopted a final rule (“Final Rule”) that will amend rules for securities clearing agencies to subject all SEC-registered central counterparties (“CCPs”) and central securities depositories (“CSDs”) to enhanced standards. The adopted rules will become effective sixty days after publication in the Federal Register. (As of the date of this post, the Final Rule had not been published).
In a press release, Brett Redfearn, Director of the Division of Trading and Markets stated “[t]hese amendments both enhance and clarify the definition of a covered clearing agency, which is an important step in the regulation of the U.S. financial system’s critical market infrastructure.”
Continue Reading SEC Expands, Clarifies, and Standardizes Clearing Agency Rule