NYSE Arca, Inc. submitted a proposed rule change to the Securities and Exchange Commission (SEC) on November 30, 2020, to list and trade shares of the Stance Equity ESG Large Cap Core ETF. This proposed change was initially published in the Federal Register on December 21, 2020, and the SEC had until February 4, 2021, to make a decision. However, the SEC has decided to extend the review period until March 21, 2021, to allow for more time to evaluate the proposal. The SEC is doing this to ensure they have enough time to make an informed decision on whether to approve or disapprove the rule change.
Simple Explanation
The people in charge of checking the rules for trading a special kind of stock called the Stance Equity ESG Large Cap Core ETF need more time to decide if they should allow it or not. They added extra time until March 21, 2021, to make sure they understand everything before saying yes or no.