(9)The SEC may designate clearing agencies as clearing agencies with a more complex risk profile. A CCP clearing security-based swaps is always considered to have a more complex risk profile. Moreover, the Financial Stability Oversight Council may designate a CCP as systemically important pursuant to the Dodd-Frank Act. Such CCPs with a more complex risk profile or that are systemically important are considered to be ‘covered clearing agencies’. The enhanced framework laid down in SEC Rule 17Ad-22(d) and (e) apply to such CCPs. This Decision only concerns the equivalence of the US legally binding requirements applicable to CCPs which have to comply with those enhanced rules.