An SEC final rule rescinding a national market system ("NMS") plan exception under NMS Rule 242.608 ("Filing and Amendment of National Market System Plans") was published in the Federal Register. The exception allows fee changes to go into effect upon filing with the SEC, without any public comment period or express SEC approval.
As previously covered, Rules 242.608(a) and (b) of Regulation NMS require that amendments to an NMS plan (i) must be published in the Federal Register and be subject to public comment, and (ii) may be implemented only upon approval by the SEC.
The final rule will go into effect on November 16, 2020.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
