SEC Commissioner Hester M. Peirce encouraged regulators to take "bold action" to facilitate capital formation and help small businesses cope with the economic impacts of the COVID-19 pandemic.

The Investment Company Institute and the Managed Funds Association responded to an SEC concept release on Securities Act registration exemptions that facilitate capital raising.

The SEC concept release reviewing the framework for exempt offerings was published in the Federal Register.

The SEC (i) raised the threshold above which non-reporting companies that offer certain compensatory benefit plans are required to deliver disclosures to investors, and (ii) requested comments on other potential changes to compensatory arrangements.

A broker-dealer agreed to settle state charges concerning supervisory deficiencies that resulted in the sale of unregistered, non-exempt securities to customers.