Federal and state banking regulators encouraged financial institutions to work with borrowers who may not be able to satisfy their financial obligations due to the outbreak of COVID-19.
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The SEC provided conditional compliance relief for registered transfer agents concerning (i) the clearance and settlement of securities transactions; and (ii) the safeguarding of securities and funds.
The SEC approved an NYSE proposed rule change to allow electronic auctions.
Investment Company Institute President Paul Schott Stevens urged state governors to grant mutual funds the same exemptions provided to banks when imposing "stay-at-home" directives.
The CFTC Division of Swap Dealer and Intermediary Oversight granted time-limited no-action relief to a bank from "major swap participant" status.