KMK Law Corporate & Securities Blog

In light of the federal government undergoing a lapse in appropriations effective October 1, 2013, referred to in the news media as the “government shutdown,” it is important to understand which operations of the SEC will continue and which will be discontinued until the shutdown ends.

Generally, all EDGAR and other filing systems will remain functional, which means that Exchange Act filing deadlines will not be impacted during the shutdown.  In addition, SEC staff will remain available to answer questions about fee-bearing EDGAR filings and other emergency questions regarding EDGAR submissions.

However, the SEC will not provide any other non-emergency support to registrants and will not review or approve any of the following: registration statements; applications with respect to new financial products; self-regulatory organization rule changes; effectiveness of registration statements by issuers for securities offerings (including acceleration requests); periodic reports and other filings. The SEC will also not issue non-emergency rulemaking, non-emergency interpretive advice or staff no-action letters and will not process new or pending applications for exemptive relief.