ICE Clear Credit LLC filed a proposed rule change to revise its Governance Playbook, as per Securities Exchange Act of 1934 requirements. Key changes include establishing a Board Risk Committee to oversee risk management and adding fitness standards for Board Managers. These changes aim to improve the clearance and settlement of securities by enhancing ICC's governance structure. Public comments on the proposal are encouraged by the Securities and Exchange Commission by May 12, 2025.
Simple Explanation
ICE Clear Credit LLC wants to change its rulebook to make sure they keep things safe and fair when handling money, like adding a special team to watch over big risks and making sure the managers are really good at their jobs. The people in charge want to know what everyone thinks about this idea by May 12, 2025.