SEC Offers Relief and Assistance to U.S. Companies and Fund Boards Affected by Coronavirus

The SEC offered relief and assistance to certain U.S. publicly traded companies and fund boards affected by COVID-19 (a/k/a the "coronavirus") (see here and here). Additionally, the SEC urged all companies to disclose any material information concerning the impact of the coronavirus.

Subject to certain conditions, the SEC will:

  • provide U.S. publicly traded companies affected by the coronavirus with an additional 45 days to file certain disclosure requirements, pursuant to the Exchange Act Section 13(a) or 15(d), that otherwise would be due between March 1 and April 30, 2020; and

  • not recommend enforcement action against fund boards for the inability to meet certain in-person voting requirements due to conditions related to coronavirus.

Additionally, the SEC stated that it encourages:

  • companies to alert investors of any material risks relating to the coronavirus; and

  • registrants to contact the SEC for help if they are having difficulty meeting filing requirements due to the coronavirus.

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