SEC Amends Requirements Related to NMS Plan Fees
August 20, 2020
The SEC has issued a final rule, Rescission of Effective-Upon-Filing Procedure for NMS Plan Fee Amendments and Modified Procedures for Proposed NMS Plans and Plan Amendments, that “rescind[s] a rule exception that allowed a proposed national market system (NMS) plan fee amendment to become effective upon filing, prior to review and comment by investors and other market participants.”
Among other things, the amendments “require public notice of any proposed NMS plan fee amendment, an opportunity for public comment, and Commission approval by order before a new or changed fee can be charged.”
For more information, see the press release on the SEC’s Web site.