Federal Register #SR-LCH SA-2026-002

SEC Notice: LCH SA CDS Clearing Rule Book Amendments for Regulatory Compliance

This opportunity concerns a proposed regulatory change by the Securities and Exchange Commission (SEC) involving LCH SA's CDS Clearing Rule Book: - Government Buyer: - Securities and Exchange Commission (SEC), Division of Trading and Markets - OEM / Vendor Highlight: - LCH SA (central counterparty clearing house) - Products/Services Requested: - Regulatory amendment to the CDS Clearing Rule Book - Modifies conditions for outsourcing clearing operations by Clearing Members, in line with French AMF (Autorité des Marchés Financiers) regulations - Updates the definition of LCH SA Contribution to comply with EMIR (European Market Infrastructure Regulation) - Implements provisions from the CCP Recovery and Resolution Regulation (EU CCPRR) - Unique or Notable Requirements: - Strict compliance with international (EU, French) regulatory frameworks - Enhanced risk management and operational efficiency for clearing activities - No physical products or purchase quantities are specified; focus is on regulatory and operational changes - Key Locations: - Securities and Exchange Commission, 100 F Street NE, Washington, DC (contracting office) - Securities and Exchange Commission Office of FOIA Services, 100 F Street NE, Washington, DC (contracting office) - Regulatory Authorities Referenced: - French AMF, European Commission, EMIR, EU CCPRR

Description

The Securities and Exchange Commission has filed a proposed rule change submitted by LCH SA concerning amendments to its CDS Clearing Rule Book. The changes include modifications to the conditions under which a Clearing Member may outsource clearing operations in compliance with French AMF regulations, amendments to the definition of LCH SA Contribution to align with EMIR requirements, and implementation of provisions related to the CCP Recovery and Resolution Regulation. The proposal aims to enhance operational efficiency, risk management, and regulatory compliance for clearing activities.

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