Meredith Macvicar News Today

<p><span>Today, the Commission will consider whether to propose standards for covered clearing agencies (also known as clearinghouses) regarding the clearance of certain trades involving U.S. Treasury securities. I am pleased to support these rules because, if adopted, they would help to make a vital part of our capital markets more efficient, competitive, and resilient.</span></p>

<p><span>Today, the Commission voted to propose rules to strengthen the governance of registered clearing agencies, also known as clearinghouses. This proposal would, among other things, fulfill Section 765 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, where Congress directed the Commission to address conflicts of interest for security-based swap clearinghouses. I was pleased to support this proposal because, if adopted, it would enhance governance standar...

<p><span>Today, the Commission is considering a proposal to create a framework for the registration of security-based swap execution facilities (security-based SEFs). I am pleased to support this proposal because, if adopted, it would increase the transparency and integrity of the traditionally opaque over-the-counter security-based swap market, fulfilling a mandate under the Dodd-Frank Act of 2010 to register and regulate the platforms that trade these instruments.</span></...

<p><span>Today, the Commission unanimously proposed two rules further defining a dealer to help identify principal trading firms (PTFs) and firms conducting similar activities that must register with the SEC. I was pleased to support this proposal because I believe it reflects Congress’s statutory intent that firms engaging in important liquidity-providing roles in the securities markets, including in the U.S. Treasury market, be registered with the Commission. Further, req...

<p><span>Today, the Commission voted to propose removing references of credit ratings from Rules 101 and 102 of Regulation M (Reg M). I was pleased to support today’s proposal because, if adopted, it would fulfill a mandate issued by Congress in the wake of the 2008 financial crisis.</span></p>

<p><span>Today, the Commission unanimously voted to propose rules and amendments to broaden the scope of short sale-related data available to the investing public and to regulators. I am pleased to support this proposal because, if adopted, it would strengthen transparency of an important area of our markets that would benefit from greater visibility and oversight.</span></p>

<p><span>Today, the Commission is considering amendments to include significant Treasury markets platforms within Regulation ATS. I support these amendments because, if adopted, they would help promote resiliency and greater access in the Treasury market. We’re also considering modernizing our rules related to the definition of an exchange. Over the decades since Congress put in place the definition of an exchange, there have been many changes to platforms — in pa...