The Securities and Exchange Commission has approved a rule change proposed by MIAX Sapphire, LLC, concerning fines for minor rule violations on its Trading Floor. The amended rule, called Exchange Rule 1014, introduces new penalties for several types of minor infractions. The changes aim to prevent disruptive behaviors and ensure the smooth operation of the Trading Floor. These adjustments are in line with the rules of a similar exchange and are intended to help enforce compliance with established regulations while shielding investors and the public interest.
Simple Explanation
The government wants to ensure people follow the rules when trading, so they approved new fines for small mistakes on the Trading Floor to keep things running smoothly. This change is a bit like what a similar place has done, hoping these fines will make people follow the rules better.