Search Results for citation:"89 FR 95257"

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Search Results: citation:"89 FR 95257"

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  • 2024-28107 — Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of Proposed Change To List and Trade Option Contracts on the iShares Bitcoin Trust, the Fidelity Wise Origin Bitcoin Fund, and the ARK21Shares Bitcoin ETF
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    Type:Notice
    Citation:89 FR 95257
    Reading Time:about 43 minutes

    The NYSE American LLC has proposed a new rule to the Securities and Exchange Commission allowing the listing and trading of options on the iShares Bitcoin Trust, the Fidelity Wise Origin Bitcoin Fund, and the ARK21Shares Bitcoin ETF. This initiative aims to boost market liquidity, price efficiency, and transparency for these Bitcoin-backed funds, ensuring investors have a stable and cost-effective way to engage with the Bitcoin market. The rule also outlines specific position limits and surveillance measures to prevent market manipulation and ensure investor protection. The proposal has been approved for immediate effectiveness, allowing options to be listed once all necessary systems are prepared to handle trading.

    Simple Explanation

    The NYSE American has a new plan that lets people trade pretend versions of some new Bitcoin investments, like iShares and Fidelity Bitcoin funds, which helps make buying and selling easier and keeps it fair so nobody cheats. This rule is ready to use right away, but grown-ups have to set up the systems to make trading work before it starts.

  • 2024-28222 — Submission for OMB Review; Comment Request Extension: Rule 15c2-8
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    Type:Notice
    Citation:89 FR 95257
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) has requested the Office of Management and Budget (OMB) to approve an extension of the existing data collection required under Rule 15c2-8. This rule mandates that broker-dealers deliver prospectuses to certain individuals during securities offerings, including initial public offerings (IPOs), with a specific "48-hour rule" for IPOs. Broker-dealers must also maintain accurate records to identify those requesting prospectuses. The SEC estimates significant time and cost burdens for compliance, and a 30-day public comment period for this request is open until January 2, 2025.

    Simple Explanation

    The Securities and Exchange Commission wants to continue a rule that makes sure certain people get important papers about companies when they are selling their stocks, like when they first start selling shares to the public. They are asking for people's thoughts until January 2, 2025, and they say this can be costly for companies to follow.