On September 27th, the SEC advised that, in the event of a government shutdown, the Division of Corporation Finance’s activities will be significantly limited. Particularly, during a shutdown, the Division will be unable to accommodate requests for accelerating registration statements effectiveness, nor will it be able to qualify Form 1-A offering statements.
While the federal government remains open, it will conduct regular business. The SEC will provide as much advance notice as possible should a change in its operating status seem imminent. Considering the uncertainty associated with a federal government shutdown, registrants are encouraged to request effectiveness or qualification while the Division continues its normal operations. This recommendation pertains to registrants with pending registration or offering statements that are both substantially complete and have met all regulatory conditions to request acceleration of the effective date (including the dissemination of any draft registration statement for the required periods under Securities Act Section 6(e) or the related Division accommodations) or qualification.
EDGAR will accept registration statements, offering statements and other filings without regard to the federal government’s operating status.
For a list of Questions and Answers that may address a number of questions that may arise, please visit sec.gov.
Source:
Division of Corporation Finance Actions In Advance of a Potential Government Shutdown (sec.gov)
