The Long-Term Stock Exchange, Inc. (LTSE) submitted a proposed rule change to the Securities and Exchange Commission (SEC) to amend the Rule Series 11.600. This amendment aims to align LTSE's compliance rules with a specific exemption granted by the SEC, known as the "Allocation Exemption," which adjusts how allocations and reporting are managed under the National Market System Plan. The proposed changes include defining "Allocation" and "Allocation Report," determining who is responsible for reporting allocations, and specifying what information needs to be reported. Comments from the public are being solicited to evaluate the impact and effectiveness of these proposed changes.
Simple Explanation
The Long-Term Stock Exchange wants to change some rules about how they share and report certain stock information to fit better with a special permission from another big group called the SEC. They're asking people to share their thoughts on these changes to see if they work well or not.