SEC Issues Final Rule on Enhancing Governance of Registered Clearing Agencies

The SEC has released a final rule that amends the Securities Exchange Act of 1934 to “improve the governance of all registered clearing agencies by reducing the likelihood that conflicts of interest may influence their boards of directors or equivalent governing bodies.” Specifically, the amendments “identify certain responsibilities of the board, increase transparency into board governance, and, more generally, improve the alignment of incentives among owners and participants of a registered clearing agency.”

The final rule will become effective 60 days after the date of its publication in the Federal Register. For more information, see the press release and fact sheet— as well as the statements by SEC Chair Gary Gensler and Commissioners Mark Uyeda and Hester Peirce — on the SEC’s Web site.