Cboe BYX Exchange, Inc. has filed a proposed rule change with the Securities and Exchange Commission to amend its fee schedule, focusing on handling billing errors and disputes. The proposed change would make all fees and rebates final after three months, aiming to encourage timely review of invoices by members and non-members. The proposed rule also requires any fee disputes to be submitted in writing with supporting documentation within this period. The Exchange believes that these changes will reduce administrative burdens and create a fair, consistent policy for resolving billing issues.
Simple Explanation
Cboe BYX Exchange wants to change a rule so that if someone finds a mistake in their bill, they have to tell Cboe within three months. After that, the bill can't be changed, and this is like putting a time limit on saying, "Hey, there's a mistake here!"