You are invited to respond to our industry consultation on our proposals arising from our end-to-end review of the modification framework. You can download this consultation below, and responses are invited by Wednesday 24 March 2021.
Why are we reviewing the modification framework?
In early 2018, we carried out a review of the SEC modification framework in SEC Section D ‘Modifications Process’. Our findings resulted in three modifications being progressed, with the biggest changes being the introduction of the Development Stage to assess a proposal’s issue, and the requirement for the Change Board to approve Data Communications Company (DCC) Impact Assessment requests. The Working Group recommended that a review of the new arrangements should be carried out a year following implementation. This would assess if these were having the desired effect and whether further changes are needed.
The modification framework can be further streamlined to improve the experience of SEC Parties. We have trialled new ways of working since the previous enhancements were implemented, testing these out before updating Section D. We have also been working with the DCC to improve how it inputs to and engages with modifications.
The Panel agreed in October 2020 for SECAS to carry out a further review of SEC Section D, from initiation to implementation. SEC Parties have kindly provided their feedback via one-to-one sessions, an industry request for information (RFI) and an industry workshop. Your responses have been invaluable in helping us to develop our proposals for how the framework can be further enhanced.
You are invited to provide your input on our proposed changes by responding to this consultation
The consultation, available to download above, is open until Wednesday 24 March 2021. You are invited to provide your thoughts on our findings and recommendations by responding to the questions we have posed. Please email your completed response form to sec.change@gemserv.com with the subject line ‘SEC Section D Review Consultation response’.
Following this consultation, we will present our final report and recommendations to the SEC Panel in April 2021.
If you have any questions, please contact a member of the team on 020 7090 7755 or by email at sec.change@gemserv.com.