Page 20 - 期货和衍生品行业监管动态（2022年8月）

期货和衍生品行业监管动态

6. SEC Proposes Rules to Improve Clearing Agency Governance and to Mitigate

Conflicts of Interest (2022/8/8)

The Securities and Exchange Commission today proposed new rules to help

improve governance arrangements across all registered clearing agencies by reducing

the likelihood that conflicts of interest may influence the board of directors or

equivalent governing body of a registered clearing agency.

"I was pleased to support this proposal because, if adopted, it would enhance

governance standards for all registered clearinghouses, particularly with regards to

conflicts of interest," said SEC Chair Gary Gensler. "I think these rules would help to

build more transparent and reliable clearinghouses. This in turn would help ensure our

markets are more resilient, protecting investors and building trust in our markets."

The proposed rule would establish new governance requirements on board

composition, independent directors, nominating committees, and risk management
committees. The proposed rule would also require new policies and procedures

regarding conflicts of interest, board obligations to oversee relationships with service

providers for critical services, and a board obligation to consider stakeholder

viewpoints. As it relates to clearing agencies that clear security-based swaps, the

proposed rule would advance the policy objectives of the Dodd-Frank Act by

establishing new requirements for policies and procedures that require such clearing

agencies to identify, mitigate, or eliminate conflicts of interest and document those

actions.

If adopted, the proposed rules would increase transparency of the

decision-making process on clearing agency boards and committees and improve the

alignment of incentives between clearing agency participants and owners. In

particular, the proposed rule would reduce conflicts of interest, increase the role of
independent directors in board decision-making processes, and help promote fair

representation of owners and participants in the selection of directors.

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