The proposed expansion would add registered security-based swap data repositories (SBSDRs), registered broker-dealers exceeding an asset or transaction activity threshold, and additional clearing agencies exempted from registration to the definition of “SCI entity”.

Should the proposed updates be adopted, they would amend provisions of Regulation SCI concerning:

• systems classification and lifecycle management
• third-party/vendor management
• cybersecurity
• the SCI review
• the role of current SCI industry standards
• recordkeeping and related matters

The SEC is also soliciting comment on whether Regulation SCI should apply to significant-volume ATSs and/or broker-dealers using electronic or automated systems for trading corporate debt securities or municipal securities.

The proposal is open for public comment for 60 days after the date of publication of the proposing release in the Federal Register. To submit feedback, interested parties may use the SEC’s internet comment form or send an email to rule-comments@sec.gov with the File Number File No. S7-07-23 in the subject line.

Source:

SEC Proposes to Expand and Update Regulation SCI (sec.gov)