On Apr. 7, ICE SEF issued rule on member conflicts of interest remedy.
ICE SEF self-certified to the SEC new ICE SEF Rule 410, Ownership Limitation for the Security-Based Swap Execution Facility Rulebook that is operated by ICE SEF.
Rulemaking Overview
Addresses voting and ownership related issues that may cause a conflict of interest between a security-based swap execution facility (SBSEF) member and the SBSEF.
For cases when SBSEF member's ownership or voting interests in the SBSEF surpass a certain threshold, ICE SEF intends to terminate the membership of the member.
Effectiveness
The new rule will become effective on Apr. 22, 2025.
