ICE Clear Credit LLC (ICC) has filed a proposed rule change to update and formalize its Governance Playbook, which outlines the governance structure and procedures at ICC. The Playbook consolidates information regarding the board of managers, various committees, and key management roles, emphasizing the importance of transparency, safety, and efficiency. These updates aim to ensure that ICC's governance arrangements are clear and effective, promoting the secure and accurate handling of securities transactions and derivatives. The Securities and Exchange Commission seeks comments from the public on this proposed rule change to gauge its impact and compliance with relevant regulations.
Simple Explanation
ICE Clear Credit wants to change how they organize and decide things to make sure everything is safe and fair when handling money deals. They are asking people if they think these changes are good.