Title: 12-73


CSL Letter Types

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CSL Issuance Date

Description

The no-action letter provides relief to a derivatives clearing organization (DCO) that is dually registered as a securities clearing agency for failure to enforce certain of its clearing member requirements. Under this relief, the DCO may waive the applicability of certain of its bylaws and rules to facilitate a transaction involving the transfer, assignment and assumption of the securities correspondent clearing business of one clearing member to another.