The National Securities Clearing Corporation (NSCC) has proposed a rule change to amend and restate its 2002 Cross-Guaranty Agreement with the Depository Trust Company (DTC). This proposal aims to update procedures to reflect current practices, simplify guaranty obligations, and enhance information sharing between the two agencies. The Securities and Exchange Commission (SEC) has allowed the rule to take effect immediately, noting it does not significantly impact investor protection or competition. Written comments on the proposal can be submitted by the public until February 13, 2025.
Simple Explanation
The NSCC wants to update an agreement with another company to make it easier for them to share information and work together. The government thinks this is fine and won't hurt people who invest money or compete in the market.