US regulator moves to help investors affected by COVID-19
US Securities and Exchange Commission plans to provide temporary flexibility for funds affected by the coronavirus.
The United States Securities and Exchange Commission (SEC) said it will allow temporary flexibility to borrow and enter into certain other lending arrangements for registered investment companies affected by the coronavirus pandemic. The announcement came on Monday.
The temporary relief by the top regulator and enforcement agency for the US’s financial markets is designed to help registered funds. It provides additional tools to help investors manage their portfolios as they seek to rebalance their investments, the SEC said.
US financial markets have experienced wild volatility as the administration of President Donald Trump adjusts policies to deal with the economic fallout of the coronavirus. In the past few days, 1,000-point swings have become common.
The US has been hit hard by the worldwide COVID-19 pandemic. There have been more than 40,000 coronavirus cases nationwide, with more than 500 deaths.