The staff of the Division of Investment Management (“Division”) of the US Securities and Exchange Commission (“SEC”) has published “FAQs” regarding relief for funds and advisers affected by COVID-19 (the “FAQs”).  The FAQs include, among others:

  • information about how to contact the Division with questions or concerns about COVID-19 related operational or compliance

On April 22, 2020, the US Securities and Exchange Commission’s Division of Investment Management (“Staff”) announced that it is extending the EDGAR filing window on April 29, 2020, from 5:30 p.m. to 10:00 p.m. EDT for registered investment company (“RIC”) and business development company (“BDC”) filings.  This extension was instituted to mitigate potential filing delays

Hosted by Intelligize

The COVID-19 pandemic has raised a number of issues specific to public companies that file reports with the Securities and Exchange Commission. Among the issues impacted by COVID-19 that the speakers we will discuss in this webcast will be:

  • Risk factors and forward-looking information disclosures
  • Other SEC disclosure topics
  • Earnings releases, earnings

In addition to a host of significant general business concerns, such as those relating to liquidity and financing opportunities, revenues, supply chain and employee and community health and welfare, the novel coronavirus known as COVID-19 has raised a number of issues specific to public companies that file reports with the US Securities and Exchange Commission.

In this Lexis Practice Advisor ® First Analysis article, Laura Richman and Michael Hermsen discuss some key ramifications of coronavirus outbreak for public companies. In addition to a host of significant general business concerns, such as those relating to liquidity and financing opportunities, revenues, supply chain and employee and community health and welfare, the novel

The COVID-19 pandemic has had an unprecedented impact on global securities markets. Following some stark public examples of the potential misuse of material nonpublic information (“MNPI”) when trading securities, the leaders of the US Securities and Exchange Commission (“SEC”) Division of Enforcement issued a strong warning yesterday against violating US insider trading laws. The SEC Enforcement Division Co-Directors, Stephanie Avakian and Steven Peikin, invoked the Coronavirus when bluntly admonishing:

[I]n these dynamic circumstances, corporate insiders are regularly learning new material nonpublic information that may hold an even greater value than under normal circumstances. This may particularly be the case if earnings reports or required SEC disclosure filings are delayed due to COVID-19. Given these unique circumstances, a greater number of people may have access to material nonpublic information than in less challenging times. Those with such access – including, for example, directors, officers, employees, and consultants and other outside professionals – should be mindful of their obligations to keep this information confidential and to comply with the prohibitions on illegal securities trading. Trading in a company’s securities on the basis of inside information may violate the antifraud provisions of the federal securities laws.
Continue Reading Profiting Off Pandemic: The SEC Issues a Sharp Reminder About Companies’ Obligations Regarding Insider Trading and MNPI