You are invited to contribute to our review of the end-to-end SEC modification process. You are invited to attend an industry workshop at 10:00 on Wednesday 27 January 2021 where you will have the opportunity to input to our proposals for changes to SEC Section D ‘Modification Process’.
If you would be interested in attending this online workshop, please email us at sec.change@gemserv.com by Monday 25 January 2021.
Improvements made by the previous review of Section D
SECAS carried out a review of the SEC modifications process in early 2018 which resulted in three modifications being raised and implemented:
- SECMP0049 ‘Section D Review: Amendments to the Modification Process’ introduced the Development Stage and created the Change Sub-Committee (CSC) to oversee this. It also required the Change Board to approve the costs of DCC Impact Assessments.
- SECMP0050 ‘Section D Review: Moving the Working Group’s Terms of Reference to a separate document’ moved the details of how Working Groups operate from the SEC to a Panel-owned document.
- SECMP0051 ‘Section D Review: Amendments to the Fast Track Modification process’ streamlined the process for Fast Track Modifications, aligning this to the process under other Codes.
Why are we carrying out another review of Section D?
The SECMP0049 Working Group recommended that a review of the new arrangements should be carried out a year following SECMP0049’s implementation. This would assess if these were having the desired effect and whether further changes are needed.
The modifications process can be further streamlined to improve the experience of SEC Parties. We have trialled new ways of working since SECMP0049 was implemented, testing these out before updating Section D. We have also been working with the Data Communications Company (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 and an industry request for information (RFI). Your responses have been invaluable in helping us to develop straw man proposals for how the framework can be further enhanced.
You are invited to provide your input on our proposed changes by attending our workshop
The workshop will be held online on Wednesday 27 January 2021 from 10:00-15:00. You will have the opportunity to learn about our proposed enhancements and provide your input and comments. If you would be interested in attending, please email us at sec.change@gemserv.com by Monday 25 January 2021, and we will send you a link to join the call.
An industry consultation will also be issued in February 2021 to seek your views before we present our recommendations to the Panel. If you are unable to attend the workshop but would still like to comment on our proposals, you can still input via this consultation.
If you have any questions, please contact a member of the team on 020 7090 7755 or by email at sec.change@gemserv.com.
