- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2023-02-17T20:14:00
Options Clearing Corp. (OCC) agreed to pay $22 million as part of settlements with the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) addressing charges the company failed to comply with internal rules to manage risks.
The OCC, the world’s largest equity derivatives clearing corporation, didn’t properly create, implement, and enforce its written policies and procedures related to reducing operational risks, the SEC alleged Thursday. The OCC didn’t comply with its agency-approved stress testing and clearing fund methodology rule between October 2019 and May 2021, per the agency’s order.
When the company didn’t modify its comprehensive stress testing system, as required, it didn’t notify the SEC of this failure, the order stated.
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2023-05-18T15:47:00Z By Kyle Brasseur
The Securities and Exchange Commission proposed a package of rule changes designed to enhance the risk management responsibilities and resilience of covered clearing agencies.
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After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
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