TheCorporateCounsel.net

Per Axios, lawmakers seem optimistic that they will avert a government shutdown with a continuing resolution to fund the government into March. But we once again find ourselves up against a government funding deadline this Friday, and the SEC is preparing accordingly, adding this note on its homepage about its operational status in the event of a lapse in appropriations:

[T]he SEC’s operating status will change concurrently with the rest of the federal government, in accordance with the agency’s plan for operating during a shutdown. As that plan contemplates, we are currently preparing for a potential shutdown, with a focus on the market integrity and investor protection components of our mission. Our plan calls for the continuing operation of certain Commission systems, including EDGAR. Additional information is available from the Division of Corporation Finance, the Division of Examinations, and the Division of Investment Management.

As it has done a few times before, Corp Fin also posted an announcement last Friday, “Division of Corporation Finance Actions in Advance of a Potential Government Shutdown,” providing guidance on the Division’s operations during a shutdown and various considerations for filing matters. This guidance may seem very familiar because it largely follows the guidance we have received from the Staff in past government shutdown situations. With that in mind, check out Dave’s top ten takeaways from the SEC’s guidance in September 2023.

– Meredith Ervine