Search Results for citation:"86 FR 12057"

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Search Results: citation:"86 FR 12057"

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  • 2021-04273 — Sunshine Act Meetings
    Type:Notice
    Citation:86 FR 12057
    Reading Time:about a minute or two

    The Securities and Exchange Commission (SEC) will hold a closed meeting on Thursday, March 4, 2021, at 2:00 p.m. The meeting will take place remotely and possibly at the SEC's headquarters in Washington, DC. During this session, the commissioners and key staff will discuss topics such as the start or resolution of legal actions and administrative proceedings. If there are changes in the meeting's schedule, details will be updated on their website, and the legal authority for closing this meeting is based on specific exemptions in U.S. law.

    Simple Explanation

    The SEC, a group in charge of making sure people follow money rules, will have a private meeting on March 4. They'll talk about important stuff that can't be shared yet, like deciding what to do when someone might have broken the rules.

  • 2021-04087 — Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing of Advance Notice Relating to OCC's Establishment of Persistent Minimum Skin-In-The-Game
    Type:Notice
    Citation:86 FR 12057
    Reading Time:about 41 minutes

    The Options Clearing Corporation (OCC) is proposing changes to its rules and policies to introduce a persistent minimum amount of its own financial resources, known as "skin-in-the-game," to be used in covering losses if any member defaults. The OCC's new proposal aims to ensure this minimum amount is always available before tapping into members' clearing fund contributions. This effort is part of their broader plan to enhance financial stability and align their operations with global standards. Additionally, the changes are intended to improve risk management processes and ensure the OCC meets its regulatory obligations.

    Simple Explanation

    The Options Clearing Corporation wants to set aside a special treasure chest of money that they must always have on hand to use first if someone can't pay their bills. This is like making sure the OCC always has a backup plan to keep things running smoothly.