The New York Stock Exchange (NYSE) filed a proposed rule change with the Securities and Exchange Commission (SEC). This change involves removing the maximum fee rates for processing and forwarding proxy materials to stock owners and required member organizations to follow fee schedules set by other securities organizations. The SEC had a 45-day period to take action on this rule change after it was published, initially expiring on February 4, 2021. However, the SEC extended this period to March 21, 2021, to allow more time to consider the proposal and the comments received.
Simple Explanation
The New York Stock Exchange wants to change a rule about how much money its members can charge for sending out important papers to people who own stocks. The people in charge need more time to decide, so they’re thinking about it until March 21, 2021.