Federal Register #SR-PEARL-2026-28

SEC Notice: MIAX PEARL Proposed Rule Change for UTP ETP Information Circulars

This notice concerns a proposed regulatory change by MIAX PEARL, LLC, published by the Securities and Exchange Commission (SEC): - The proposal seeks to amend Rule 2900, which governs information circular requirements for Unlisted Trading Privileges (UTP) Exchange Traded Products (ETPs) - The amendment would remove the requirement for MIAX PEARL to distribute an information circular before trading each UTP ETP, as the primary listing exchange already provides necessary disclosures - Additional changes include: - Adding cross-references to Rule 2107 (Suitability) and Rule 2120 (Customer Disclosures) - Modifying written description requirements to align with the primary listing exchange - No products, part numbers, or purchase quantities are requested - No OEMs or vendors are mentioned - This is a regulatory notice, not a procurement or contract opportunity

Description

The Securities and Exchange Commission has published a notice regarding a proposed rule change by MIAX PEARL, LLC. The rule change pertains to amendments to Rule 2900 concerning information circular requirements. The proposal includes deleting the requirement for the Exchange to distribute an information circular prior to trading commencement for each UTP Exchange Traded Product, adding cross-references to other rules, and modifying written description requirements. The change aims to eliminate duplicative obligations since the primary listing exchange already provides the necessary disclosures.

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