After a lengthy delay, the adopting release for the SEC’s new Rule 17Ad-22 has been published in the Federal Register, triggering effectiveness of the new rule. Rule 17Ad-22, adopted in light of the role of clearing agencies in clearing security-based swaps and evolving international standards, establishes new minimum requirements regarding how registered clearing agencies must maintain effective risk-management procedures and controls as well as meet the statutory requirements under the Exchange Act on an ongoing basis.
Effective Date: January 2, 2013.
View Final Rule in full here (links externally to GPO website).