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Re:Robinhood, in Need of Cash, Raises $1B from Its Investors by IG_Semmelweiss on Friday January 29, 2021 @09:28AM (#25957517)
The NSCC sets the framework, but it is spelled out in Dodd-Frank that they have to do so by law.

There are some other items, but that's the basic idea - full details are here: https://dtcc.com/-/media/Files/Downloads/legal/policy-and-co...

If you want to dive further i recommend this thread :

https://mobile.twitter.com/KralcTrebor/status/13549526861652...

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