The Nasdaq Stock Market LLC submitted a rule change proposal to the Securities and Exchange Commission (SEC) to provide certain listed companies with a free board recruiting service aimed at increasing diversity on company boards. The proposal was initially published for public comment on December 10, 2020. The SEC has extended the time for its decision on this proposal to March 10, 2021, to allow more time for consideration of the proposal and public feedback. This extension was agreed upon by the Nasdaq Stock Market LLC.
Simple Explanation
Nasdaq wants to help some of the companies on its list find diverse people to join their boards by giving them free help. The government agency in charge of making sure everything is fair needs more time to think about this idea and has until March 10, 2021, to decide.