The Securities and Exchange Commission (SEC) has received a rule change proposal from the NYSE American LLC that extends the expiration date of temporary amendments to certain rules, allowing hearings to be held via video conference due to COVID-19 public health concerns. These amendments, originally set to expire on December 31, 2020, will now be extended to April 30, 2021, aligning with similar adjustments made by the Financial Industry Regulatory Authority (FINRA). This temporary change is intended to ensure that disciplinary hearings can continue safely and without interruption during the ongoing pandemic. The SEC is inviting public comments on this proposed rule change.
Simple Explanation
The NYSE American wants to keep having their important meetings online until the end of April 2021 because it’s safer during the COVID-19 pandemic, and the SEC is asking people what they think about this plan.