An SEC final rule was published in the Federal Register which amends the definitions of "covered clearing agency," "central securities depository services" and "sensitivity analysis" to apply to both central counterparties and central securities depositories. The final rule will go into effect on July 13, 2020.

As previously covered, in 2016 the SEC adopted final rules to strengthen policy and procedure standards for certain clearing agencies that were deemed to be systemically important. The enhanced standards will now apply to all SEC-registered central counterparties.

Originally published 15 May 2020

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