SEC Proposes Rule to Enhance Risk Management and Resilience of Covered Clearing Agencies

The SEC has issued a proposed rule, Covered Clearing Agency Resilience and Recovery and Wind-Down Plans, to amend certain portions of the Covered Clearing Agency Standards under the Securities Exchange Act of 1934. The proposed rule “would amend the existing rules regarding intraday margin and the use of substantive inputs to a covered clearing agency’s risk-based margin system and add a new rule to establish requirements for the contents of a covered clearing agency’s recovery and wind-down plan.” Comments on the proposed rule are due 30 days after the date of its publication in the Federal Register or July 17, 2023, whichever period is longer.

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