December 23, 2014
EDGAR Not Available on December 26th
I thought I would highlight this statement from the SEC since folks outside the Beltway probably aren’t aware that the federal government is closed on Friday, December 26th:
Friday, December 26, 2014, has been declared a non-working day for the federal government. Consistent with Securities and Exchange Commission (SEC) operation on a federal holiday, the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system will not be operational that day. Filings will not be accepted and the Filing Web Sites will not be operational. We will resume normal operation on Monday morning, December 29, 2014. Because December 26, 2014, will be treated as a federal holiday for filing purposes, all filings due on December 26, 2014, will be due December 29, 2014.
Although the 26th is not officially a federal holiday, this Executive Order from the President closed the entire federal government for that day. So, as the SEC’s statement says, the 26th isn’t considered a “business day” for purposes of filing deadlines as if it were a “holiday”…
In 2008, we had the same situation and I explained more in this blog about the nuances of an executive order closing the government. For example, if you are counting your 20 business days for a tender offer, it is my understanding that the SEC staff takes the position that if the offer is ongoing, you can still count the unscheduled Friday holiday in the 20 days. But you shouldn’t end the offer – or start it – on Friday.
Crowdfunding: A Crowdfunder’s Insiders Tale
This article from Institutional Investor gives us the perspective of a small business owner and the challenges of crowdfunding in the current era. It discusses “StartUp” – a free podcast series that chronicles the efforts of someone to finance a start-up related to podcasts…
Lawyers? Not Highly Sought as Dates…
This article is pretty funny – noting how lawyers were found to be at the bottom of a survey about who is in demand as a New Year’s Eve date…
– Broc Romanek