The Securities and Exchange Commission has announced that Cboe Exchange, Inc. has submitted a proposed rule to update its policy on billing errors. The proposal suggests that any billing disputes or errors must be submitted in writing within three months of the invoice date. Fees and rebates will be considered final after a three-month period, providing clarity and eliminating the need for revisiting past invoices. This update aligns with similar policies from affiliated exchanges, aiming to foster timely review of charges and reduce administrative burdens.
Simple Explanation
Cboe Exchange made a new rule saying that if someone notices a mistake in their bill, they need to tell them within three months, or else the bill will be final and can't be changed anymore. This is to make sure everything is checked on time and not go back to old bills, but some people might find this hard if it takes them longer to notice mistakes.