The Securities and Exchange Commission has announced that the BOX Exchange LLC filed a proposed rule change to extend the period that certain individuals can act as principals without having passed applicable qualification exams. This change is in response to disruptions caused by the COVID-19 pandemic, which have made it difficult for candidates to take these exams. The proposal allows those acting as principals since before January 1, 2021, to continue in their roles until April 30, 2021, without completing the exams. This temporary rule aligns with similar measures by other self-regulatory organizations and aims to maintain operational stability during the pandemic while ensuring investor protection.
Simple Explanation
The Stock Watchers announced that BOX Exchange is letting some helpers be leaders without passing a test right now because of the virus. They can keep being leaders until the end of April 2021, so things keep running smoothly and people who invest feel safe.