Search Results for keywords:"board independence"

The Securities and Exchange Commission (SEC) has approved changes proposed by ICE Clear Credit LLC to improve governance practices. The changes involve amending the Governance Playbook and Operating Agreement to create a Nominating Committee. This committee will evaluate the independence and qualifications of individuals being proposed for the board to ensure fair management. These updates aim to meet new regulatory requirements and enhance the organization's governance by minimizing conflicts of interest.

The Securities and Exchange Commission (SEC) approved a rule change proposed by The Options Clearing Corporation (OCC) to amend its governance documents to align with SEC rules. The changes focus on ensuring board independence, enhancing third-party provider risk management, and improving transparency in governance. Specifically, the amendments require a majority of board and committee members to be independent, clarify responsibilities for managing third-party services, and update criteria for board member evaluation. These updates aim to strengthen the governance and accountability of the OCC.