The Securities and Exchange Commission (SEC) is considering whether to approve a proposed rule change submitted by Cboe BZX Exchange, Inc. that would allow it to list and trade Multi-Class Exchange-Traded Fund (ETF) Shares under an amended rule. This change seeks to enable quicker listings of these shares when exemptive relief is granted by the SEC, as several applications for such relief are currently pending. The SEC is reviewing whether this proposal is consistent with legal requirements that protect investors and prevent fraud. Interested parties are encouraged to submit their opinions on whether the rule change should be approved or disapproved by mid-March 2025.
Simple Explanation
The SEC is thinking about a new rule that would let a stock exchange more easily list special kinds of shares called Multi-Class ETFs. They're checking if this new rule would keep people safe and stop trickery, and want people to say what they think about it by mid-March 2025.