SEC Raises Risk Management Requirements for Clearing Agencies and Depositories
The SEC amended the definitions of "covered clearing agency," "central securities depository services," and "sensitivity analysis" to be applicable to central counterparties (or "CCPs") and securities depositories (or "CSDs").
As previously covered, the SEC adopted rules in 2016 to strengthen policy and procedure standards for certain clearing agencies deemed to be systemically important. These enhanced standards will now apply to all SEC-registered central counterparties.
The final amendments will go into effect 60 days following publication in the Federal Register.
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