SEC Rule 17a-22 Extension: Clearing Agency Website Posting Requirements
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The U.S. Securities and Exchange Commission is seeking public comments on the extension of OMB Control No. 3235-0196 for Rule 17a-22. This rule mandates that all registered clearing agencies must prominently post on their websites any supplementary materials issued or made available to participants or significant counterparties within two business days of issuance. If the Commission is not the primary regulator, one copy must also be filed with the appropriate regulatory agency. The rule enables the SEC to monitor procedural and policy changes for consistency with Section 17A of the Exchange Act and to detect unreported rule changes under Section 19(b). There are currently seven active registered clearing agencies expected to comply. Each agency averages 120 postings per year, with each posting estimated to require 15 minutes of staff time.
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Key Changes
- Registered clearing agencies must post supplementary materials on their websites within 2 days of issuance
- Postings required for materials issued to participants or entities with significant relationship
- When SEC is not the primary regulator, one copy must be filed with the appropriate regulatory agency
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