SEC Unveils New Clearing Agency Standards Under Dodd-Frank

Law360, New York (November 5, 2012, 9:00 PM EST) -- The U.S. Securities and Exchange Commission has laid out standards for how registered clearing agencies should operate and address risk management, in line with the Dodd-Frank Act, the SEC said in a Federal Register notice published Friday.

Under the new rule, clearing agencies that provide central counterparty services would be required to meet certain risk management and operational standards, the SEC announced. The new rule was adopted under Dodd-Frank, which expanded the agency's authority to establish standards for clearing agencies, including those that clear security-based swaps,...
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