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U.S. securities regulators are contemplating reforms to modernize the rules that govern companies paying workers with equity in order to reflect the emergence of the so-called “gig economy”.

The U.S. Securities and Exchange Commission (SEC) is seeking feedback on possible ways to modernize its rules regarding securities being issued as compensation “in light of the significant evolution” in compensation arrangements and the composition of the workforce, the U.S. regulator announced on Wednesday.

The SEC also issued final amendments to the rules for registration exemptions for securities issued by non-reporting companies under compensation arrangements.

“The rule as amended, and the concept release, are responsive to the fact that the American economy is rapidly evolving, including through the development of both new compensatory instruments and novel worker relationships – often referred to as the ‘gig economy.’ We must do all we can to ensure our regulatory framework reflects changes in our marketplace, including our labor markets,” says Jay Clayton, SEC chairman, in a statement.

The consultation on possible reforms to accommodate the gig economy will be out for comment for 60 days.

Separately, the SEC also adopted new rules to bolster the transparency and regulatory oversight of alternative trading systems (ATSs).

Under the new rules, ATSs will have to provide disclosure designed to allow traders and investors assess potential conflicts of interest, and how trading venues operate (including order types, execution procedures, and fees).

“I applaud the staff’s retrospective review of our regulation of ATSs. I agree that promoting greater transparency in order interaction, matching, and execution will help empower investors and their intermediaries to find those trading venues that best meet their trading and investing objectives,” says Clayton.