27 May 2025
📈Rule 5703
Self-Regulatory Organizations; The Nasdaq Stock Market LLC; Notice of Filing of Proposed Rule Change To Adopt Rule 5703 To Permit the Generic Listing and Trading of Multi-Class Exchange-Traded Fund Shares
Summary
The Nasdaq Stock Market LLC proposes Rule 5703 to allow for the generic listing and trading of Multi-Class ETF Shares that meet specific regulatory requirements. This facilitates broader investment opportunities while ensuring compliance with the Investment Company Act, enhancing market accessibility and competition in the ETF space.
Agencies
- Securities and Exchange Commission
Business Impact
$$$ - High
The proposed Rule 5703 by the Nasdaq allows for the generic listing and trading of Multi-Class ETF Shares, which could facilitate new product offerings and enhance market competition. Compliance with this rule will require business owners in the investment sector to adapt to new regulatory standards, thereby impacting financial strategies and product developments.