Search Results for keywords:"Securities and Exchange Commission"

The Securities and Exchange Commission (SEC) has issued a notice under the Paperwork Reduction Act of 1995, requesting an extension for the collection of information related to Rule 17a-8. This rule involves mergers of affiliated investment companies and requires specific procedures such as board approvals and evaluations for assets when merging with an unregistered entity. The average annual burden is estimated at 7 hours per fund, with a total annual cost for all funds estimated at $3,151,248. The public can submit comments on the usefulness and burden of this information collection until March 31, 2025.

MIAX Sapphire, LLC has filed a proposal with the Securities and Exchange Commission (SEC) to amend its fee schedule for accessing the MIAX Sapphire Options Exchange's testing systems environment via a dedicated cross connection. This proposal includes a monthly fee of $1,000 for both 1Gb and 10Gb connections, which is voluntary for market participants, who can also choose to access it for free through a virtual private network (VPN). The aim is to provide a reliable environment for testing software and other system functionalities before live trading, with the proposal effective from December 1, 2024. The change is designed to be fair and consistent with industry standards, taking into account competition as 18 U.S. options exchanges compete for market share.

The Securities and Exchange Commission is reviewing a proposed rule change by the Options Clearing Corporation (OCC) to enhance its methods for assessing the risks of short-dated options. The OCC plans to adjust how it aligns day-count conventions between option price smoothing and implied volatility scenarios and extend the term structure to better account for options with less than one month to expiration. These changes aim to improve the accuracy of margin and stress testing components, ensuring that the financial risks are well-managed. The rule also outlines the potential impacts on margin requirements and clearing funds, with slight increases expected for accounts with a high concentration of short-dated options.

The Nasdaq Stock Market LLC has filed a proposed rule change with the Securities and Exchange Commission to delay the implementation of a new Options Regulatory Fee (ORF) and its methodology. Initially set to start earlier, the new ORF will now be implemented on June 1, 2025, and will end on December 1, 2025. Additionally, Nasdaq plans to revert the ORF to the rate of $0.0016 per contract side, effective March 1, 2025. The Securities and Exchange Commission is inviting public comments on this proposed rule change until March 5, 2025.

The Securities and Exchange Commission has received a proposed rule change filing from Cboe EDGA Exchange, Inc. The proposal, submitted on December 20, 2024, suggests updating the fee schedule associated with the "Consolidated Audit Trail Funding Fees" to a rate of $0.000022 per executed equivalent share. Interested parties are encouraged to submit their comments through the SEC's online platform or by mail, with all submissions due by January 27, 2025. The proposal is under the immediate effectiveness category pursuant to certain sections of the Securities Exchange Act of 1934.

The Securities and Exchange Commission (SEC) is reviewing a proposed rule change by NYSE National, Inc. to amend its schedule of fees and rebates for co-location services. The exchange wants to add two new Partial Cabinet Solution (PCS) bundles, Options E and F, which offer enhanced 40 Gb connections compared to the previous 10 Gb options. This addition aims to attract smaller users who might benefit from a 40 Gb option without needing a full cabinet. The SEC is inviting public comments on this proposal, and users who purchase these new options by December 31, 2021, will receive a discount for the first year.

The Securities and Exchange Commission (SEC) is seeking public comments on changes to the way investment companies advertise their performance to potential investors. The proposed changes, known as Rule 482, aim to ensure that advertisements provide balanced and informative information about investment objectives, risks, charges, and past performance, which may not guarantee future results. Additionally, the rule would align risk statements in advertisements with those required in official prospectuses, particularly for money market funds. Comments on the proposed changes are invited until March 24, 2025.

Nasdaq PHLX LLC proposed changes to lower the Options Regulatory Fee (ORF) starting in 2025. From November 1, 2024, to December 31, 2024, they plan to reduce the ORF fee from $0.0034 to $0.0022 per contract. Beginning January 1, 2025, the methodology for assessing ORF will change to include different rates for options traded on different exchanges, with new rates applied to various transactions except those by market makers. The proposal aims to ensure that the fees collected cover regulatory costs without exceeding them.

On February 10, 2025, NYSE Arca, Inc. submitted a proposal to the Securities and Exchange Commission to list and trade shares of the Grayscale Cardano Trust (ADA) under the exchange's commodity-based trust regulations. This proposal, updated by a second amendment on February 20, 2025, outlines the purpose and operation of the trust, emphasizing the roles of entities like Grayscale Investments and Coinbase Custody. The Cardano Trust functions by holding Cardano (ADA) digital assets and is designed as a cost-effective way for investors to gain exposure to ADA without holding the asset directly. The proposal includes details on the Cardano network, the trust's operation, rules for creating and redeeming trust shares, and the security protocols for storing digital asset keys.

The Cboe BZX Exchange, Inc. has proposed a rule change to the Securities and Exchange Commission (SEC) to amend its fee structure for listing certain financial products called Outcome Strategy Exchange-Traded Products (ETPs). This change involves expanding the annual listing fee cap, now $16,000 per year, to include ETPs that base their returns on the performance of more than one reference index. The proposal aims to make listing costs more affordable and to encourage more issuers to list or transfer their ETPs to the Exchange, thereby fostering competition. The SEC is inviting public comments on this proposal before it makes a final decision.