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.