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,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.