The New York Stock Exchange LLC (NYSE) filed a proposal with the Securities and Exchange Commission (SEC) to extend the temporary changes to NYSE's Rules 9261 and 9830 until April 30, 2021. These amendments, initially set to expire on December 31, 2020, allow for hearings to be conducted via video conference due to the COVID-19 pandemic, mirroring similar actions by the Financial Industry Regulatory Authority (FINRA). The proposal aims to ensure that disciplinary hearings can continue safely during the ongoing health crisis without causing delays. The SEC has agreed to expedite the processing of this proposal so it can take effect immediately.
Simple Explanation
The New York Stock Exchange (NYSE) is changing its rules so that important meetings can happen on video calls instead of in person because of the COVID-19 situation. This way, everyone stays safe while still getting their important work done on time.