Monday, March 30, 2020

Coronavirus spreads and the SEC jumps into triage mode; filers do their best to explain challenges

By Amy Leisinger, J.D.

As COVID-19 continues to change the world and daily activities, life is no different for the SEC. As the agency notes, federal securities regulations, particularly those regarding disclosure, are designed to protect the public and promote informed decision-making. The Commission is continually working to ease reporting and filing deadlines and other requirements in the wake of the pandemic. However, in the process of filing, the SEC urges registrants to consider disclosing all material changes, not only for big business but for firms directly connected with the health care system. The SEC urges market participants facing operational or reporting hardships relating to the effects of COVID-19 to find solutions that meet the SEC’s mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation.

Wolters Kluwer’s Amy Leisinger surveys the changes to “business as usual” in SEC filings in connection with RBsourceFilings® as the path forward remains uncertain.

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