Search

SEC Affirmation of OCC Capital Plan Strengthens Clearing Organization's Resiliency

February 12, 2016
Chicago -

OCC, the world's largest equity derivatives clearing organization, today applauded the announcement by the U.S. Securities and Exchange Commission that, following an independent review of the record by the full Commission, the regulatory agency approved OCC's capital plan that had been previously approved on behalf of the Commission by SEC staff in March 2015.

In doing so, the SEC said "given OCC's critical clearing functions and its systemic importance, the Commission agrees that having OCC increase its capitalization is appropriate and in the public interest." The Commission also found that "the Capital Plan does not impose any burden on competition not necessary or appropriate in furtherance of the purposes of the [Exchange] Act." You can read the complete SEC order on the OCC capital plan at https://www.sec.gov/rules/other/2016/34-77112.pdf.

"We are pleased that the SEC has granted final approval of OCC's capital plan," said Craig Donohue, OCC Executive Chairman. "Through this action, the SEC has confirmed that strengthening OCC's capitalization is a compelling public interest and has acknowledged OCC's importance to the U.S. financial markets as a Systemically Important Financial Market Utility. OCC's Capital Plan is a vital component to our goal of providing world-class service to market participants and ensuring the resiliency of an important market utility."

Your acceptance of all cookies will permit robust site functionality. If you don't allow cookies, some features and functionality of OCC's site may not operate as expected. If you do not choose either cookie setting for our site, or if you close this window, this message will continue to display on each page you visit. Cookie settings can be controlled in your Internet browser to automatically reject some forms of cookies. For more details on cookies this site uses, see our OCC Site Cookies page. In addition to using cookies, we retain other information, including your Internet Protocol (IP) address, for the purposes listed in the Privacy Policy. Do not accept analytic cookies Accept analytic cookies