The Securities and Exchange Commission (SEC) has announced a proposed rule change filed by The Depository Trust Company (DTC). This change aims to amend DTC's Recovery and Wind-Down Plan to align with new regulatory requirements under Exchange Act Rule 17ad-26. The updates include detailed procedures for handling potential financial distress, such as staffing plans, service provider roles, and strategies for maintaining critical services in severe market conditions. The goal is to ensure continuous operation of DTC's core services and meet federal regulations while not impacting daily operations or competition.
Simple Explanation
The SEC wants to update some rules for a big company called DTC to make sure it can keep working even if it faces money problems. They want to do this without causing trouble for the company’s everyday work or others who do the same kind of job.