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Frequently Asked Questions
  Do all the funds operating under an existing exemptive order have to transition to operating under Rule 6c-11 and Nasdaq Rule 5704 at the same time?
Identification Number 1738

Yes. According to the SEC, once an ETF becomes eligible to operate under Rule 6c-11 and elects to list on Nasdaq under Nasdaq Rule 5704, the existing order related to that fund (and all other funds under that exemptive order) will be rescinded. Once a fund is listed under Nasdaq Rule 5704, it will not be able to relist under Nasdaq Rule 5705(b) (Index Fund Shares) or Nasdaq Rule 5735 (Managed Fund Shares) unless a new exemptive relief order is obtained from the SEC.

Publication Date*: 4/10/2020 Mailto Link Identification Number: 1738
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