The Securities and Exchange Commission (SEC) approved a rule change for the Long-Term Stock Exchange (LTSE) allowing them to offer promotional services and listing ceremonies for companies listed on the exchange. This new rule, known as Rule 14.602, will include services like press releases, articles, and listing ceremonies, which aim to help companies better market themselves when they join the exchange. These offerings are designed to make LTSE more competitive with other major exchanges like NYSE and Nasdaq by attracting more companies to list. The SEC found that the rule change was fair and equitable and does not create unnecessary burdens on competition.
Simple Explanation
The government gave a special stock exchange (LTSE) the green light to help companies throw parties and tell everyone when they start selling their shares, just like other big exchanges do. This is to make sure LTSE can keep up and attract more companies to join them.