Maine’s financial services regulator has loosened requirements for the industry amid the coronavirus emergency in an effort to protect businesses and investors.

In an order issued Wednesday, Maine Securities Administrator Judith Shaw eliminated some regulatory hurdles facing financial services professionals.

“In an effort to ensure financial professionals can continue to work and that investors continue to receive the level of service they expect and deserve from those professionals, I have issued an order providing temporary relief from some regulatory requirements,” Shaw said in a news release.

The measures allow out-of-state financial professionals stuck in Maine to work in the state if they meet certain requirements, lets advisers unable to service a client transfer or reassign them to another firm with the client’s consent, gives flexibility in the annual deadline to give updated firm information to clients, suspends online training requirements for new licenses and on-site audit requirements for broker-dealer firms and waives late fees for issuers of securities that miss filing deadlines because of the pandemic.

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