Search Results for keywords:"Operational Risk Management Framework"

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Search Results: keywords:"Operational Risk Management Framework"

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  • 2024-30679 — Self-Regulatory Organizations; National Securities Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the Clearing Agency Operational Risk Management Framework
    Type:Notice
    Citation:89 FR 105165
    Reading Time:about 8 minutes

    The Securities and Exchange Commission announced that the National Securities Clearing Corporation (NSCC) has proposed changes to its Operational Risk Management Framework. These updates include reflecting recent name changes within its organizational groups and clarifying some existing sections for better understanding. The changes are designed to improve the framework without impacting the competitiveness of the clearing agency. Public comments on these proposals can be submitted to the SEC until January 16, 2025.

    Simple Explanation

    The Securities and Exchange Commission says that a big money-handling group wants to make some easy changes to their rulebook to make it clearer and update some names. People can tell the SEC what they think about it until January 16, 2025.

  • 2021-02399 — Self-Regulatory Organizations; ICE Clear Credit LLC; Notice of Filing of Proposed Rule Change Relating to the ICC Operational Risk Management Framework
    Type:Notice
    Citation:86 FR 8447
    Reading Time:about 11 minutes

    ICE Clear Credit LLC (ICC) has filed a proposed rule change with the Securities and Exchange Commission to update its Operational Risk Management Framework. These revisions aim to enhance the management and assessment of risks associated with ICC's operations and ensure compliance with relevant regulations. The changes involve aligning its processes with the Enterprise Risk Management Policy of ICC's parent company, Intercontinental Exchange, and clarifying ERM's role in risk reporting and assessment. This proposal does not alter ICC's Clearing Rules and seeks to improve operational transparency and the protection of investors and the public interest.

    Simple Explanation

    ICE Clear Credit wants to update their rules to make sure they're managing risks better and staying safe, like following their parent company's safety guidelines, but these changes don't affect any of their clearing rules.

  • 2024-29037 — Self-Regulatory Organizations; ICE Clear Credit LLC; Order Granting Accelerated Approval of Proposed Rule Change Relating to the ICC Operational Risk Management Framework
    Type:Notice
    Citation:89 FR 99949
    Reading Time:about 26 minutes

    The Securities and Exchange Commission (SEC) approved a rule change proposed by ICE Clear Credit LLC (ICC) to revise its Operational Risk Management Framework (ORMF). This change enhances how ICC manages risks from partnerships with core service providers, including requiring evaluations of these relationships by senior management and ICC's Board. The updates align ICC with regulatory requirements, helping ensure clear responsibilities and improving the governance and risk management of operations associated with clearing securities transactions. The approval was granted on an accelerated basis to meet the compliance date of December 5, 2024.

    Simple Explanation

    The SEC said it's okay for a company called ICE Clear Credit to change how it keeps things safe and well-organized with their work partners. They want to make sure people in charge check on these relationships to keep everything fair and square.

  • 2024-30678 — Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Modify the Clearing Agency Operational Risk Management Framework
    Type:Notice
    Citation:89 FR 105169
    Reading Time:about 8 minutes

    The Securities and Exchange Commission announced a proposed rule change by the Fixed Income Clearing Corporation (FICC), which involves updates to its Operational Risk Management Framework. This change aims to reflect recent name changes of groups within the structure and to incorporate nonmaterial edits for clarity. The modifications do not seem to affect competition and intend to enhance the framework's clarity and comprehensiveness. The SEC is seeking comments from the public on the proposed updates by January 16, 2025.

    Simple Explanation

    The Securities and Exchange Commission is looking at some changes made by the Fixed Income Clearing Corporation to make their rules clearer by updating names and explanations, and they want people to share their thoughts about it by mid-January next year.