Federal Register #SR-FICC-2026-011

SEC notice on FICC’s proposed removal of certain Sponsored Member reporting requirements

This SEC notice covers a proposed FICC rule change, not a government procurement. - Government agency: U.S. Securities and Exchange Commission (SEC), which is seeking public comments on the proposal. - Organization involved: Fixed Income Clearing Corporation (FICC), proposing changes to its Government Securities Division Rulebook; DTCC is mentioned in connection with access to rule filings. - Proposed changes: Remove Sponsoring Member obligations to notify FICC when a Sponsored Member no longer meets specified eligibility requirements and to provide advance notice of Reportable Events affecting a Sponsored Member. - FICC says the eligibility-related language refers to requirements that have already been removed. - FICC says enhanced monitoring, including monitoring using Sponsored Members’ Legal Entity Identifiers, makes the separate Reportable Event notice unnecessary. - Vendor and OEMs: FICC uses a compliance monitoring tool supplied by an unnamed third-party vendor. No OEM or vendor is identified by name as a manufacturer, and no products or services are being procured.

Description

Fixed Income Clearing Corporation (FICC) proposes to amend its Government Securities Division Rulebook to remove the requirement that Sponsoring Members provide written notice of certain events affecting Sponsored Members. The notices relate to a Sponsored Member’s noncompliance with specified requirements and Reportable Events. FICC states that prior changes to Sponsored Member requirements and enhanced monitoring make these reporting obligations unnecessary. The SEC published the notice to solicit comments on the proposed rule change.

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