On November 19, 2024, MIAX Emerald, LLC filed a proposed minor rule violation plan (MRVP) with the Securities and Exchange Commission (SEC). This plan allows the exchange to address certain rule violations with fines not exceeding $2,500, without having to report these minor infractions immediately to the SEC. Instead, the exchange will provide a quarterly report detailing such violations. The SEC found this proposal meets public interest standards and enables the exchange to manage oversight responsibilities more efficiently.
Simple Explanation
MIAX Emerald, a company that helps people buy and sell stocks, wants to handle small mistakes with small fines without telling the big boss (SEC) right away. Instead, they'll tell the boss about these mistakes every few months.