Type:Notice
Citation:90 FR 12844
Reading Time:about 3 minutes
The Securities and Exchange Commission (SEC) announced that the National Securities Clearing Corporation (NSCC) filed a proposed rule change to its Clearing Agency Risk Management Framework. This proposal aims to update and clarify various processes, such as the quarterly review escalation process and the annual review process regarding "done-away" clearing activity. It also involves removing references to the Systemic Risk Council and making other minor clarifications. The SEC invites the public to comment on this proposed rule change by April 9, 2025.
Simple Explanation
The NSCC wants to change some rules about how they manage risks, and they told the SEC about it. They are asking people to say what they think about these changes by April 9, 2025.