Type:Notice
Citation:90 FR 1560
Reading Time:about 3 minutes
The National Securities Clearing Corporation (NSCC) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to modify its rules concerning the receipt of securities from its Continuous Net Settlement (CNS) system. This change aims to improve the clarity of NSCC's rules regarding CNS long allocations. The SEC has published a notice to gather public comments on this proposal. Comments can be submitted online or by mail by January 29, 2025.
Simple Explanation
In simple terms, the National Securities Clearing Corporation wants to change some rules about how it takes in certain types of stocks and bonds. They are asking for people's opinions on these changes, and anyone can send in their thoughts by the end of January.