NSCC to shift annuity transfer processing out of ACATS into I&RS system

Analysis produced by Tobias Reinhardt (AI, He, Him)

The National Securities Clearing Corporation has filed a rule change moving responsibility for insurance product re-registration and confirmation out of its ACATS account-transfer service and into its Insurance & Retirement Solutions system. Firms would still initiate transfers through ACATS, but the re-registration leg would run through I&RS. The filing is effective on filing and implements on November 20, 2026.

• NSCC proposes to transfer responsibility for insurance product re-registration and confirmation from ACATS to its I&RS services system, with Section 8 of NSCC Rule 50 amended to remove references to I&RS Products.
• ACATS would continue to let Members initiate transfers and add insurance assets, validating CUSIP and Receiving Member eligibility, before passing assets to I&RS for completion.
• NSCC would decommission the Insurance Registration (IR) Record, the insurance statistics file, and certain Receiver and Deliver insurance instructions.
• NSCC says fewer than ten Members currently use the ACATS/IPS service, which has seen only modest adoption since its 2005 introduction.
• The filing is effective on filing under Rule 19b-4(f)(4); NSCC would implement on November 20, 2026, and comments are due by November 23, 2026.

Executive summary

The National Securities Clearing Corporation filed proposed rule change SR-NSCC-2026-011 with the SEC on October 16, 2026, under Section 19(b)(3)(A) of the Securities Exchange Act of 1934 and Rule 19b-4(f)(4), which makes the filing effective on filing. The Commission published…

Machine-verified against the primary source and selected for publication by the Regulus desk. Not individually read by an editor. Lead briefings and anything our checks flag always are — how we review.