NYSE Arca amends board nomination rule to allow any individuals
The change, effective October 15, 2026, lets NYSE Arca's nominating committee name any person as a board nominee, removing the OTP/ETP holder restriction.
On October 15, 2026 NYSE Arca, Inc. filed a proposed rule change to amend Rule 3.2(b)(3)(C)(ii). The amendment becomes effective immediately under Section 19(b)(3)(A) of the Exchange Act and Rule 19b-4(f)(6)(iii).
The amendment deletes the requirement that the Nominating Committee publish the name of one or more OTP Holders or Associated Persons of an OTP Firm or ETP Holder as its nominee(s). Instead, the Committee may publish the name of any individuals as its nominees for non-affiliated directors of the Exchange.
NYSE Arca states the change is consistent with Section 6(b) of the Exchange Act and aligns its governance with affiliates such as NYSE LLC and NYSE American LLC, as well as other self-regulatory organizations like Nasdaq and CBOE BYX.
The Exchange reported no written comments were received and asserts the amendment imposes no unnecessary burden on competition. It characterizes the change as non-controversial and solely aimed at giving the Nominating Committee broader discretion.
The Commission may summarily suspend the rule change within 60 days of filing if it deems such action necessary to protect investors or the public interest.
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