The Securities and Exchange Commission (SEC) has decided to extend the time it will take to review a proposed rule change filed by The Nasdaq Stock Market LLC. This proposal aims to amend rules around "Equity 4" to establish safeguards for halt crosses in trading prices and make other related updates. Initially, the SEC was supposed to reach a decision by January 4, 2025, but they have extended this deadline to February 18, 2025, to allow more time for consideration. The proposed changes were published for public comment on November 20, 2024, but no comments have been received so far.
Simple Explanation
The Securities and Exchange Commission needs more time to think about a new rule from Nasdaq that would help keep stock prices steady when trading pauses and starts again, so they've given themselves until February to make a decision. They haven't heard from anyone about it yet.