On March 3rd, the SEC published new rules under the Dodd-Frank Act and the Securities Exchange Act of 1934 regarding the operation and governance of clearing agencies. The Commission also voted to reopen the comment period for rules proposed in October to mitigate conflicts of interest for security-based swap clearing agencies, security-based swap execution facilities, and national securities exchanges that post or make available for trading security-based swaps. The proposed rules would require clearing agencies to maintain certain risk management standards; have adequate safeguards and procedures to protect the confidentiality of trading information; have procedures that identify and address conflicts of interest; have minimum governance standards for boards of directors; designate a chief compliance officer; and to disseminate pricing and valuation information if they perform central counterparty services for security-based swaps. Comments should be submitted on or before April 29, 2011. SEC Release No. 34-64017 (proposed new rules regarding the operation and governance of clearing agencies); SEC Release No. 34-64018 (reopening the comment period for proposed rules regarding conflicts of interest). See also SEC Press Release; Schapiro Remarks; Casey Remarks; Paredes Remarks.