The Securities and Exchange Commission has announced that the Municipal Securities Rulemaking Board (MSRB) filed a proposed rule change to extend the compliance date for changes to Form G-32. Originally set for March 31, 2021, the compliance deadline has been moved to August 2, 2021, giving brokers and dealers more time to adapt to the updates due to ongoing COVID-19 disruptions. The proposed change is considered "noncontroversial," thus it becomes effective upon filing. The MSRB believes this extension will help brokers and dealers better allocate resources to implement new compliance processes and training.
Simple Explanation
The Securities and Exchange Commission is letting people have more time until August 2, 2021, instead of March 31, 2021, to get ready for new rules because the ongoing COVID-19 makes it tough to do so quickly. This change is simple and doesn't cause any big problems.