SEC Extends Compliance Dates for Final Rule Related to Covered Clearing Agencies

The SEC has announced the extension of the compliance dates for its December 2023 final rule that amends the requirements for covered clearing agencies that provide “central counterparty services for U.S. Treasury securities.” Specifically, the compliance dates are being extended “by one year, from December 31, 2025, to December 31, 2026, for eligible cash market transactions, and from June 30, 2026, to June 30, 2027, for eligible repo transactions.”

Among other requirements, the final rule mandates that “covered clearing agencies have written policies and procedures reasonably designed to require that every direct participant of the covered clearing agency submit for clearance and settlement all eligible secondary market transactions in U.S. Treasury securities to which it is a counterparty.”

For more information, see the press release on the SEC’s Web site.