The Securities and Exchange Commission is reviewing a proposed amendment to allow the Cboe BZX Exchange, Inc. to list and trade a new type of security known as Multi-Class ETF Shares. This rule change involves setting standards for these securities that don't require prior approval from the Commission, as long as they meet certain requirements under the Investment Company Act. The goal is to facilitate more efficient trading and potential benefits for investors. The Commission is seeking public comments on this proposed rule change.
Simple Explanation
The SEC is thinking about a new rule that lets a stock exchange trade a special kind of new shares called Multi-Class ETF Shares, which could help people trade more easily. They're asking everyone to say what they think about this idea.