Securities and Exchange Commission
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission [Release No. 34-104412; File No. SR-FICC-2025-015] December 16, 2025. On June 6, 2025, Fixed Income Clearing Corporation (“FICC”) filed with the Securities and Exchange Commission (“Commission”) the proposed rule change SR-FICC-2025-015 pursuant to Section 19(b) of the Securities Exchange Act of 1934 (“Exchange Act”)  [ 1 ] and Rule 19b-4  [ 2 ] thereunder to modify FICC's Government Securities Division (“GSD”) Rulebook (“GSD Rules”)  [ 3 ] to enhance and clarify FICC's default management rules as they apply to the Sponsored Service and Agent Clearing Service, and to facilitate the porting of indirect participant activity from one intermediary Netting Member to another intermediary Netting Member. The proposed rule change was published for public comment in the Federal Register on June 23, 2025. [ 4 ] The Commission has received comments regarding the substance of the changes proposed in the proposed ( printed page 59619) rule change. [ 5 ] In addition, the Commission has received a letter from FICC in response to the public comments. [ 6 ] On July 31, 2025, pursuant to Section 19(b)(2) of the Exchange Act, [ 7 ] the Commission designated a longer period within which to approve, disapprove, or institute proceedings to determine whether to approve or disapprove the proposed rule change. [ 8 ] On September 16, 2025, FICC filed Amendment No. 1 to the proposed rule …
Citation: 90 FR 59618
