Regulatory Alerts2020-10-15 | 2020-18572Added · Updated
Rescission of Effective-Upon-Filing Procedure for NMS Plan Fee Amendments and Modified Procedures for Proposed NMS Plans and Plan Amendments
The Securities and Exchange Commission is rescinding the effective-upon-filing exception for National Market System plan fee amendments, thereby requiring public comment and Commission approval before such fees become effective. The Commission is also modifying procedures for proposed National Market System plans and amendments by mandating email filings and updating the processes for Commission notice publication and subsequent action. Additionally, the rulemaking adopts amendments to Commission rules of practice regarding disapproval proceedings and adjusts delegations of authority to the Director of the Division of Trading and Markets.
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