The Long-Term Stock Exchange, Inc. has filed a proposed rule change with the Securities and Exchange Commission to modify its fee schedule for transactions involving stocks priced under $1.00, known as "Sub-Dollar Securities." This change, submitted on December 27, 2024, is intended to take effect immediately and became operational starting December 12, 2024. The SEC is inviting public comments on this proposed rule change by February 6, 2025. More details on the proposal can be found on both the Exchange’s and SEC’s websites.
Simple Explanation
The Long-Term Stock Exchange wants to change how much it charges when people buy or sell stocks costing less than $1.00, and they told the government about this change. They want people to share their thoughts about it, but the reasons for the change and what exactly will change aren't very clear.