Regulation Systems Compliance and Integrity

The Securities and Exchange Commission ("Commission') is adopting new Regulation Systems Compliance and Integrity ("Regulation SCI') under the Securities Exchange Act of 1934 ("Exchange Act') and conforming amendments to Regulation ATS under the Exchange Act. Regulation SCI will apply to certain self-regulatory organizations (including registered clearing agencies), alternative trading systems ("ATSs'), plan processors, and exempt clearing agencies (collectively, "SCI entities'), and will require these SCI entities to comply with requirements with respect to the automated systems central to the performance of their regulated activities.