According to a press release on the UC regents website: “The University has temporarily suspended some of its requirements for admitted students to ensure that they are able to enroll as planned. It also expects to work with students to adjust financial aid packages if family financial circumstances have changed.“
One of the UC Regents was recent embroiled in an insider trading controversy. Senator Dianne Feinstein was accused of selling equities based on allegations that she received classified information that would indicate to her a need to sell before a market downturn. She has not been formally charged. The available information suggests she was likely not aware of the trades defensive nature, however.