- within Consumer Protection, Insolvency/Bankruptcy/Re-Structuring and Insurance topic(s)
On 27 December 2018, the SEC began reduced operations as a result of the federal government shutdown.
The SEC is operating with a very limited number of staff members and has stated that it will continue the operation of certain systems, including EDGAR, and will be able to "respond to emergency situations involving market integrity and investor protection."
The SEC has announced that it will not consider requests for acceleration of registration statements until further notice. This should not affect companies that are either "well-known seasoned issuers" (WKSIs) or companies that have an effective shelf registration statement on file with the SEC. Other companies planning to make registered offerings should consult with their U.S. legal counsel.
Any updates to the SEC's operational status will be posted on www.sec.gov.
The SEC Division of Corporation Finance's announcement regarding operations during the government shutdown and related Q&As is available here. Shearman Publishes Recent Trends and Patterns
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
