Search Results for keywords:"COVID-19 disruptions"

MIAX PEARL, LLC, filed a proposed rule change with the Securities and Exchange Commission (SEC) to temporarily extend the period during which certain individuals can function as principals without passing a qualification exam due to COVID-19 disruptions. This rule change would allow these individuals to serve in principal roles until April 30, 2021, instead of the usual 120-day period. The SEC agreed to waive the usual 30-day waiting period for such rule changes, allowing it to take effect immediately, as it helps members manage personnel challenges during the pandemic without significant impact on investor protection.

The Securities and Exchange Commission has announced that the Municipal Securities Rulemaking Board (MSRB) filed a proposed rule change to extend the compliance date for changes to Form G-32. Originally set for March 31, 2021, the compliance deadline has been moved to August 2, 2021, giving brokers and dealers more time to adapt to the updates due to ongoing COVID-19 disruptions. The proposed change is considered "noncontroversial," thus it becomes effective upon filing. The MSRB believes this extension will help brokers and dealers better allocate resources to implement new compliance processes and training.