SEC Releases Final Rule for Covered Clearing Agencies

The SEC has released a final rule to amend its standards for covered clearing agencies (CCAs). Specifically, the amendments (1) “strengthen existing rules by adding new requirements related to the collection of intraday margin by a [CCA] and the use of substantive inputs in its risk-based margin system” and (2) “establish required elements of a CCA’s recovery and orderly wind-down plan.”

For more information, see the press release and fact sheet — as well as the statement by SEC Chair Gary Gensler — on the SEC’s Web site.