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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:
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| 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 | |
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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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