NSCC proposes immediate ACATS rule change for insurance product transfers
The amendment, effective immediately, binds NSCC members using ACATS to shift insurance product re-registration to the I&RS system.
The National Securities Clearing Corporation (NSCC) filed a proposed rule change that immediately amends the NSCC Rules & Procedures governing the Automated Customer Account Transfer Service (ACATS) for insurance and retirement products. The amendment applies to all NSCC members that utilize ACATS for account transfers.
The filing was submitted to the Securities and Exchange Commission on October 16, 2026 under Release No. 34-106751 and File No. SR-NSCC-2026-011. The Commission published the notice on October 28, 2026 in the Federal Register (Vol. 91, No. 210, pp. 68998-69001) pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4.
The purpose of the change is to discontinue ACATS functionality that transmits information needed to re-register insurance products, such as annuities, and to transfer that responsibility to NSCC's Insurance & Retirement Solutions (I&RS) service. Under the proposal, members will continue to initiate transfers and add insurance assets via ACATS, but the subsequent re-registration and confirmation steps will be processed through the I&RS system.
Operationally, the amendment would have ACATS validate CUSIP and eligibility, then forward insurance assets to I&RS, which will handle broker-dealer of record changes, carrier confirmations, and final notifications to the receiving member. NSCC plans to decommission several ACATS instructions and files, including the Insurance Registration (IR) Record, the insurance statistics file, and Receiver and Deliver (R&D) Insurance Instructions.
The Commission is soliciting comments on the proposed rule change from interested persons. Comments must reference the docket ID SR-NSCC-2026-011 and be submitted in accordance with the standard comment procedures.
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