Securities and Exchange Commission
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Securities and Exchange Commission [Release No. 34-104252; File No. SR-NASDAQ-2025-037] On May 6, 2025, The Nasdaq Stock Market LLC (“Nasdaq” or “Exchange”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”)  [ 1 ] and Rule 19b-4 thereunder, [ 2 ] a proposed rule change to adopt new Nasdaq Rule 5703 to permit the generic listing and trading of Class Exchange-Traded Fund Shares. The proposed rule change was published for comment in the Federal Register on May 27, 2025. [ 3 ] On June 30, 2025, pursuant to Section 19(b)(2) of the Act, [ 4 ] the Commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change. [ 5 ] On August 15, 2025, the Exchange filed Amendment No. 1 to the proposed rule change, and on August 21, 2025, the Commission issued notice of filing of Amendment No. 1 to the proposed rule change and instituted proceedings pursuant to Section 19(b)(2)(B) of the Act  [ 6 ] to determine whether to approve or disapprove the proposed rule change, as modified by Amendment No. 1. [ 7 ] On November 3, 2025, pursuant to Section 19(b)(2) of the Act, [ 8 ] the Commission designated a longer period for Commission action on the proposed rule change, as modified by Amendment No. 1. [ 9 ] On…
Citation: 90 FR 54781
