Comment Deadline Set for Temporary SEC Rule Change to Compensate Certain Gig Workers with Equity

A proposed SEC temporary rule that would allow, on a five-year trial basis, internet platform companies to partly compensate gig workers with equity was published in the Federal Register. Comments on the proposal must be submitted by February 9, 2021.

The proposed rule would amend Securities Act Rule 701 to permit issuers to compensate gig workers who provide services by means of an internet platform with securities, subject to certain conditions. See related coverage for information on the conditions to such compensation.