The Securities and Exchange Commission is reviewing a proposed rule change by NYSE Arca, Inc.. The proposal involves updating the listing standards for Managed Portfolio Shares, a type of investment product, which allows the exchange to approve new listings without needing further rule changes if they meet specific criteria. Because this is a relatively new product, the Commission is seeking public input to determine if the proposed changes are consistent with market regulations and investor protections. They want feedback by January 27, 2021, to help decide whether to approve or disapprove the rule change.
Simple Explanation
The SEC is thinking about a new rule for a financial market that makes it easier to list certain types of investments, like special funds, if they follow certain rules. They want to know what people think about this idea by January 27, 2021, so they can decide if it's a good plan.