The Nasdaq Stock Market LLC has submitted a proposed rule change to the Securities and Exchange Commission to list and trade the Hennessy Stance ESG ETF under Nasdaq Rule 5750. This ETF was previously traded on NYSE Arca and the change involves switching to Nasdaq's set of rules. The proposed change includes implementing surveillance and monitoring systems to ensure compliance with federal securities laws. The rule filing has been made effective immediately, as it does not significantly impact investor protection or competition.
Simple Explanation
Nasdaq wants to let people buy and sell a special type of stock, called an ETF, that focuses on being good for the environment and society. They will use new rules to make sure everything is fair and safe, and they've decided this change is okay right away.