SEC’s Actions in Responding to the COVID-19 Impact on Investors and Capital Markets

March 31, 2020

By  Eric Altstadter

The SEC continues to monitor the impact COVID-19 has on investors and capital markets and has provided some relief with temporary rules issued on March 25 and 26 of 2020.

On March 26, the SEC announced a new round of actions designed to help those needing to (1) gain access to, or make filings on, the SEC’s Electronic Data Gathering Analysis and Retrieval (“EDGAR”) system and (2) file under Regulation A and Regulation Crowdfunding, as well as help municipal advisors needing to file.

On March 25, the SEC announced that it had (1) extended the reporting relief for filing obligations for certain public companies (relief given to public companies grants registrants a 45-day extension to file certain disclosure reports that would be required to be filed through July 1, 2020); (2) extended regulatory relief provided to funds and investment advisors whose operations may be affected by COVID-19, granting additional time to hold in-person board meetings and filing and delivery requirements; and (3) issued its views regarding disclosure considerations and other securities law matters related to COVID-19.

There are still certain disclosures and filings required for registrants when taking advantage of the above relief. The SEC has acknowledged that this situation is fluid and that the Commission may provide extensions or relief with additional conditions it deems appropriate. Companies are encouraged to stay informed of the latest SEC update and consult with their on a regular basis.  

About Eric Altstadter

Eric Altstadter CPA is an Audit Partner with over 30 years of experience working with public companies and privately held businesses. He is the Editor-in-Charge of the firm's SEC Trends & Developments newsletter and a member of NY State Society of CPAs.