Federal Register #SR-DTC-2026-010

SEC Notice: Proposed Rule Change to Implement AnnounceDirect for Corporate Action Announcements at DTC

The Securities and Exchange Commission (SEC) has issued a notice regarding a proposed rule change by The Depository Trust Company (DTC) to implement AnnounceDirect, a new system for corporate action announcements. - Government buyer: Securities and Exchange Commission (SEC) - OEM/vendor: The Depository Trust Company (DTC) - No products or services are being procured; this is a regulatory notice, not a purchasing opportunity - Key proposal details: - Establishes AnnounceDirect as the new submission channel for corporate action announcements - Clarifies agent responsibilities and requirements for submitting information in good order and within specified timeframes - Distinguishes between pro rata pass-through principal distributions and partial redemptions by lot - Includes updates to remove outdated processes, standardize notice content, and reorganize redemption provisions for clarity - Notable requirement: Transition to AnnounceDirect for improved accuracy, timeliness, and usability in corporate action announcement submissions - The SEC is seeking public comment on these operational and procedural changes

Description

The Depository Trust Company (DTC) proposes a rule change to establish and implement AnnounceDirect, a new, modernized process for submitting corporate action announcements. The update aims to clarify submission channels, Agent responsibilities, good order and timing requirements, and distinguish between pro rata pass-through distributions of principal and partial redemptions by lot. The proposal also includes ministerial and conforming edits to remove outdated processes, standardize notice content, and reorganize redemption provisions for clarity. This change is intended to improve the accuracy, timeliness, and usability of corporate action announcement information submitted to DTC.

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