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SEC RIN: 3235-AL13 Publication ID: 2012 
Title: Clearing Agency Standards  
Abstract: The Commission proposed seven new rules and an amendment to an existing rule related to clearing agencies, including clearing agencies that clear security-based swaps. The proposed rules are designed to enhance the regulatory framework for the supervision of clearing agencies. Specifically, the proposed rules: (1) identify certain minimum standards for all clearing agencies; (2) require dissemination of pricing and valuation information by security-based swap clearing agencies that perform central counterparty services; (3) require all clearing agencies to have adequate safeguards and procedures to protect the confidentiality of trading information of clearing agency participants; (4) exempt certain security-based swap dealers and security-based swap execution facilities from the definition of a clearing agency; (5) amend rules concerning registration of clearing agencies to account for security-based swap clearing agencies and to make other technical changes; (6) require all clearing agencies to have procedures that identify and address conflicts of interest; (7) require minimum standards for all members of clearing agency boards of directors or committees; and (8) require all clearing agencies to designate a chief compliance officer. The Commission adopted a new rule related to registered clearing agencies, including clearing agencies that clear security-based swaps. The rule establishes minimum requirements for registered clearing agency risk management practices and operations. 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 17 CFR 240.17Ad-22 
Legal Authority: PL 111-203, sec 763; 15 USC 78q-1 
Legal Deadline:
Action Source Description Date
Final  Statutory  The Dodd-Frank Act requires adoption of rules within 360 days of enactment.  07/16/2011 
Timetable:
Action Date FR Cite
NPRM  03/16/2011  76 FR 14472 
NPRM Comment Period End  04/29/2011   
Final Action  11/02/2012  77 FR 66220 
Final Action Effective  01/02/2013   
Final Action  11/00/2013   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Undetermined 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Information URL: www.sec.gov/rules/final/2012/34-68080.pdf  
RIN Data Printed in the FR: No 
Agency Contact:
Dawn Jessen
Division of Trading and Markets
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-5588
Fax:202 772-9270
Email: jessend@sec.gov

 
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