SEC extends review deadline for FICC guaranty fund rule change
Fixed Income Clearing Corp.'s Government Securities Division members have until Nov. 9, 2026 for the Commission's decision on the proposed guaranty fund.
The Securities and Exchange Commission has designated a longer period for action on Fixed Income Clearing Corporation's proposed rule change SR-FICC-2026-008, which would establish a guaranty fund in the Government Securities Division to cover losses from member defaults or non-default loss events.
FICC filed the original proposal on July 24, 2026, and submitted Partial Amendment No. 1 on August 4, 2026 to clarify and correct the filing. The notice of filing was published for public comment on August 11, 2026. Under Section 19(b)(2)(i) of the Exchange Act, the Commission's 45-day decision window would have expired on September 25, 2026.
Section 19(b)(2)(ii) permits the Commission to extend that window up to 90 days when appropriate. Finding the extension warranted, the Commission set November 9, 2026 as the date by which it must either approve, disapprove, or commence proceedings to determine whether to disapprove the rule change.
The extension provides additional time for the Commission to consider comments that have been filed publicly at https://www.sec.gov/rules-regulations/public-comments/sr-ficc-2026-008. The proposed guaranty fund is intended to protect the clearing system against losses arising from member defaults or other loss events.
Members of FICC's Government Securities Division should monitor the Commission's forthcoming action, which is now required by the November 9, 2026 deadline.
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