MIAX Sapphire, LLC proposed changes to its By-Laws, which include removing the need for a Compensation Committee, adjusting how compensation and personnel actions for the Chief Regulatory Officer and senior staff are determined, and updating its Quality of Markets Committee's focus to the Trading Floor operations. These changes also streamline officer and employee compensation determinations, with an exception for the Chief Regulatory Officer. The Securities and Exchange Commission is inviting public comments on these proposed changes until February 19, 2025.
Simple Explanation
MIAX Sapphire wants to change some rules about how they handle important job roles and pay, like not needing a special group to decide on pay and focusing on how their work happens on the trading floor. People can share what they think about these changes until February 19, 2025.