Banco Popular de Puerto Rico

Fund managers may be better equipped to weather the market storm than their passive peers because of their ability to quickly cut risk.

The richer they are, the more options clients have to insulate themselves from the coronavirus and its effects.

The employee “is at home while their health is being closely monitored by their doctor and public health authorities,” a spokeswoman for the bank said.

Even with staff working from home, the agency “remains able and committed to fully executing its mission," the SEC said.

The regulator is giving firms more flexibility in supervising employees working remotely and in relocating personnel to temporary locations.

The president will seek a payroll tax cut and “very substantial relief” for industries that have been hit by the virus, reversing course on the need for economic stimulus hours after markets posted their worst losses in more than a decade.

“If an organization is able to have people work from home, then obviously that's the no-brainer,” said Scott Ream, chair of the Association of Continuity Professionals.

Key Democrats poured cold water on President Donald Trump’s proposal to include a payroll tax cut as part of his plan to respond to the coronavirus. Senior Republicans also held back from endorsing the suggestion ahead of a key lunch meeting on Tuesday.

Financial executives who visited the White House pledged to help small businesses and consumers get through any economic damage as the virus continues to spread. They also encouraged the government to support fiscal stimulus policies.

The central bank is trying to get ahead of possible funding disruptions caused by the coronavirus. Policymakers want to avert a repeat of September, when short-term borrowing costs spiked amid imbalances in supply and demand for cash.