NSCC, FICC-MBS, FICC-GOV, DTC Alert! Proposed updates to rules remove fax machines and provide an official email address for sending a copy of any notices to NSCC. FICC-MBS, FICC-GOV, DTC. Previously in writing and delivered, mailed, or faxed 'counted'
https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2023/FICC/SR-FICC-2023-005.pdf
On March 28, 2023, Fixed Income Clearing Corporation (“FICC”) filed a proposed rule change (SR-FICC-2023-005) (“Filing”) with the Securities and Exchange Commission (“SEC”) to make administrative updates to the FICC Government Securities Division Rulebook (“GSD Rules”), FICC Mortgage-Backed Securities Division Clearing Rules (“MBSD Rules”), FICC Mortgage-Backed Securities Division EPN Rules (“EPN Rules,” and together with the GSD Rules and the MBSD Rules, the “Rules”), and FICC’s Restated Certificate of Incorporation. The proposed rule change would (i) revise FICC’s Restated Certificate of Incorporation to update FICC’s registered agent upon whom process against FICC may be served and (ii) update the Rules to remove an option for sending notices by facsimile and provide an email address for sending a copy of any notices to FICC, as described in the Filing.
https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2023/DTC/SR-DTC-2023-004.pdf
provide an email address for Participants and Pledgees to send a copy of any notices to DTC
https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2023/NSCC/SR-NSCC-2023-004.pdf
The proposed rule change would (i) revise NSCC’s Certificate of Incorporation to update NSCC’s registered agent upon whom process against NSCC may be served and (ii) update NSCC’s Rules to provide an email address for sending a copy of any notices to NSCC, as described in the Filing.
TLDRS:
Proposed updates to rules remove fax machines and provide an official email address for sending a copy of any notices to NSCC. FICC-MBS, FICC-GOV, or DTC. Previously in writing and delivered, mailed, or faxed 'counted as served'.
Hooray progress!
