Search Results for keywords:"Depository Trust Company"

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Search Results: keywords:"Depository Trust Company"

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  • 2025-01931 — Self-Regulatory Organizations; The Depository Trust Company; Fixed Income Clearing Corporation; National Securities Clearing Corporation; Order Approving Proposed Rule Change To Amend the Clearing Agency Investment Policy
    Type:Notice
    Citation:90 FR 8555
    Reading Time:about 15 minutes

    The Securities and Exchange Commission approved proposed changes to the investment policies of the Depository Trust Company, Fixed Income Clearing Corporation, and National Securities Clearing Corporation. These changes are intended to align their policies with new rules for managing U.S. Treasury securities transactions and safeguarding customer margins. The proposal includes a process to keep proprietary and customer funds separate and independently managed, which aims to enhance the stability and security of these financial transactions. The updated policies are meant to ensure that funds are secure and properly managed even in the event of a financial default.

    Simple Explanation

    The SEC says it's okay for some big money-keeping companies to change how they handle money, making sure they keep people's and companies' money safe and separate, even if things go wrong. This helps keep everyone's money safe, just like making sure your toys and your friend's toys are put away in separate boxes!

  • 2024-28256 — Self-Regulatory Organizations; National Securities Clearing Corporation; The Depository Trust Company; Fixed Income Clearing Corporation; Order Approving Proposed Rule Change To Adopt the Clearing Agency Framework for Certain Requirements on Governance and Conflicts of Interest
    Type:Notice
    Citation:89 FR 95843
    Reading Time:about 21 minutes

    The Securities and Exchange Commission approved new rule changes proposed by the National Securities Clearing Corporation, The Depository Trust Company, and Fixed Income Clearing Corporation. These changes revolve around enhancing governance and reducing conflicts of interest within these organizations, ensuring directors and senior managers adhere to specified regulations. The approved framework includes mechanisms to manage conflicts of interest, risks from service providers, and to actively involve stakeholders in key decision-making processes related to risk management and operations. Ultimately, these changes aim to improve transparency and accountability in the operations of these financial clearing agencies.

    Simple Explanation

    The government made some new rules to help make sure that big companies who move money around, like helping to pay for things, do it in a fair and honest way by getting advice from lots of people. These rules are like a set of instructions that help them work better and tell everyone what they're doing.

  • 2025-05207 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing of Proposed Rule Change Relating to a Participant System Disruption
    Type:Notice
    Citation:90 FR 13919
    Reading Time:about 46 minutes

    The Securities and Exchange Commission is reviewing a proposal from The Depository Trust Company (DTC) to amend its rules regarding disruptions to participant systems. These changes aim to clarify definitions, improve notification procedures, and update governance for handling major disruptions. The proposed adjustments also include new requirements for reporting and system "reconnection" after a disruption. The DTC hopes these updates will enhance the ability to manage risks and ensure smoother operation during system interruptions.

    Simple Explanation

    The SEC is checking out a new plan from a company that keeps track of who owns stocks to make sure they handle problems better when their computers break. The rules will help them tell people faster about problems and fix things so everything runs smoothly again.

  • 2025-06523 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change Relating to Money Market Instruments Modernization
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    Type:Notice
    Citation:90 FR 16188
    Reading Time:about 34 minutes

    The Securities and Exchange Commission has published a notice regarding a proposed rule change by The Depository Trust Company (DTC) related to money market instruments. DTC aims to streamline the securities eligibility process by moving the processing of money market instruments to a more modern system, updating rules, consolidating provisions, and reducing paperwork requirements. The proposed changes are meant to make the process more efficient, simplifying the requirements for participants and issuers. This proposal is designed to enhance the overall processing and settlement of securities transactions.

    Simple Explanation

    The government is telling people about a plan to make handling and trading some special money types, called money market instruments, faster and easier by using new computer technology and reducing complicated rules. This is like cleaning up your room, throwing away stuff you don't need, and getting new shelves to make finding your toys quicker and simpler.

  • 2021-00815 — Self-Regulatory Organizations; The Depository Trust Company; Order Approving a Proposed Rule Change To Allow for the Deposit of Electronic Certificates of Deposit and Technical Changes
    Type:Notice
    Citation:86 FR 4151
    Reading Time:about 20 minutes

    The Securities and Exchange Commission (SEC) has approved changes proposed by The Depository Trust Company (DTC) to introduce an electronic system for managing Certificates of Deposit (CDs) issued by banks. This new system allows CDs to be generated, executed, and stored electronically in a secure digital vault, reducing the need for physical certificates and associated operational concerns like transport disruptions. The approved rule aims to improve efficiency by streamlining the process, enhancing legal clarity, and reducing risks associated with physical handling. Additionally, the DTC plans to make technical updates, such as clarifying terminology and updating obsolete system references.

    Simple Explanation

    The SEC has said it's okay for a company that helps keep track of money stuff to use computers instead of paper to handle special savings papers from banks, making it easier and safer. But some people are a bit worried because it's not clear how much it will cost, who will make money from it, and there are some tricky words that people might not understand.

  • 2021-02712 — Self-Regulatory Organizations; The Depository Trust Company; Order Approving a Proposed Rule Change To Update the Distributions Service Guide
    Type:Notice
    Citation:86 FR 8953
    Reading Time:about 12 minutes

    The Securities and Exchange Commission (SEC) has approved a rule change proposed by The Depository Trust Company (DTC) to update its Corporate Actions Distributions Service Guide. The changes clarify the interim accounting process, especially in cases of securities being delisted or when ex-dates change due to unscheduled stock exchange closures. DTC will no longer apply interim accounting when an ex-date shifts due to unexpected closures, reducing the workload on participants. Additionally, updates were made to the withholding tax regulations for non-U.S. participants. These adjustments aim to improve DTC's operational efficiency and enhance clarity for its participants.

    Simple Explanation

    The SEC said yes to some new rules from a company that helps keep track of who owns parts of big businesses. These rules help make things clearer about how and when to do tricky money counting tricks, especially when things get mixed up by surprise changes, making it easier for everyone to understand and work with.

  • 2021-03090 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Add New Fees for DTC's Money Market Instrument Program
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    Type:Notice
    Citation:86 FR 9968
    Reading Time:about 20 minutes

    The Depository Trust Company (DTC) has filed a proposed rule change with the Securities and Exchange Commission (SEC) to introduce new fees for its Money Market Instrument Program (MMI Program). This change aims to amend the DTC Fee Schedule to add new charges for adjustments in MMI processing that require manual intervention due to errors or late reconciliation by participants. The goal is to motivate participants to input accurate data and make timely adjustments to avoid additional settlement and operational risks. The proposed fees are tiered based on the type and risk level of the required adjustment, ranging from $2,000 to $10,000 per CUSIP.

    Simple Explanation

    The Depository Trust Company (DTC) wants to start charging banks more money if they make mistakes with their money market instruments to encourage them to be more careful, but it's not clear why the fees are set at certain amounts or how exactly they will help make things safer.

  • 2025-00170 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend the Settlement Service Guide
    Type:Notice
    Citation:90 FR 1556
    Reading Time:about 4 minutes

    The Securities and Exchange Commission (SEC) announced that The Depository Trust Company (DTC) filed a proposed rule change to amend the Settlement Service Guide. This change aims to optimize settlement transactions by removing outdated references to the Night Batch Process and adding more flexibility and clarity to the settlement cycles. The rule change will take effect immediately, and the SEC is inviting public comments on whether the proposal aligns with the Securities Exchange Act of 1934. Comments can be submitted online or by mail until January 29, 2025.

    Simple Explanation

    Imagine a company wants to make a game better by removing old parts and adding new things to make it more fun and easy to play. The grown-ups in charge of the game are asking everyone if they think these changes are good, and they have until the end of January to share their thoughts.

  • 2025-04506 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Clearing Agency Risk Management Framework
    Type:Notice
    Citation:90 FR 12858
    Reading Time:about 3 minutes

    The Securities and Exchange Commission announced that The Depository Trust Company (DTC) filed a proposed rule change on March 10, 2025. This change aims to update and clarify the Clearing Agency Risk Management Framework by modifying review procedures and removing references to the Systemic Risk Council. The Commission invites public comments on this proposed rule change until April 9, 2025. Further details about the proposal can be found on the DTC and SEC websites.

    Simple Explanation

    The Securities and Exchange Commission is looking at a new plan from The Depository Trust Company to make their safety check system better and easier to understand. They want people to tell them what they think about this change by April 9, 2025.

  • 2025-01547 — Self-Regulatory Organizations; The Depository Trust Company; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend and Restate the Second Amended and Restated Netting Contract and Limited Cross-Guaranty Between NSCC and DTC
    Type:Notice
    Citation:90 FR 8080
    Reading Time:about 6 minutes

    The Securities and Exchange Commission (SEC) is announcing a new rule change proposed by The Depository Trust Company (DTC) intended to update an existing agreement with the National Securities Clearing Corporation (NSCC). This change, which has already been filed and is effective immediately, aims to enhance processes like cross-endorsement and liquidity obligations between the two clearing agencies. These updates include consolidating obligations into a single guaranty, improving valuation of securities, better information sharing, and allowing more precise selection of securities. The public is invited to submit comments on whether the changes align with legal standards until February 13, 2025.

    Simple Explanation

    The Securities and Exchange Commission wants to change a rule to help two big companies that handle lots of money and stocks work better together, make sure everything is fair, and share helpful information more safely. People can share their thoughts on this change until February 13, 2025.

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