The SEC has issued a proposed rule, Rescission of Effective-Upon-Filing Procedure for NMS Plan Fee Amendments.
The proposed rule would “rescind a provision that allows a proposed amendment to a national market system [NMS] plan . . . to become effective upon filing if the proposed amendment establishes or changes a fee or other charge.” Because of the rescission of this provision, a proposed amendment to an NMS plan “instead would be subject to the procedures set forth in Rule 608(b)(1) and (2) that require the Commission to publish the proposed amendment, provide an opportunity for public comment, and preclude a proposed amendment from becoming effective unless approved by the Commission.”
Comments on the proposed rule are due 60 days after the date of its publication in the Federal Register. For more information, see the press release on the SEC’s Web site.