SEC Issues Proposed Rule on Clearing Agency Governance and Conflicts of Interest

The SEC has issued a proposed rule that would improve clearing agency governance by “reducing the likelihood that conflicts of interest may influence the board of directors or equivalent governing body of a registered clearing agency.” Specifically, the proposal would “establish new requirements for board and committee composition, independent directors, management of conflicts of interest, and board oversight.”

For more information, see the press release, fact sheet, and statements by SEC Chair Gary Gensler and Commissioners Hester Peirce and Mark Uyeda on the SEC’s Web site.