SEC Extends, Modifies ICE Trust Exemptions

This story appeared in Bank Digest.

The Securities and Exchange Commission has issued an order extending and modifying temporary exemptions under the Securities Exchange Act of 1934 in connection with a request of ICE Trust U.S. LLC related to central clearing of credit default swaps and request for comment. Under this deemed registered provision, ICE Trust will be required to comply with all requirements of the Exchange Act, and the rules thereunder, applicable to registered clearing agencies to the extent it clears security-based swaps after the effective date of the deemed registered provision.