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The Miami International Securities Exchange, LLC, known as MIAX Options, has proposed a rule change approved by the Securities and Exchange Commission due to disruptions caused by the COVID-19 pandemic. The change temporarily extends the period from 120 days to April 30, 2021, for registered individuals to function as principals without passing a qualification exam. This extension applies only to those designated before January 1, 2021, in response to challenges like limited capacity at test centers and operational disruptions from the pandemic. The goal is to maintain the operation of firms while easing the burden on individuals affected by testing limitations.

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.