The Investors Exchange LLC (IEX) has proposed changes to its parent corporation's bylaws. These changes would allow the Board of Directors to invite non-voting observers to attend and participate in board meetings. The proposed amendment aims to formally codify existing practices, ensuring clear roles and responsibilities for these observers while maintaining confidentiality and regulatory compliance. This proposal is considered non-controversial and is aligned with similar practices at other exchanges like BOX and MEMX, which also allow non-voting board observers.
Simple Explanation
Imagine a group that makes important decisions about a big toy store. They want to let some people listen and join their meetings but not vote. It's like listening in on a secret club but not being able to choose the games to play.