At 12:01am ET on October 1, 2025, a federal government shutdown went into effect. The Securities and Exchange Commission (SEC) has posted an announcement and Q&A regarding the activities of the Division of Corporation Finance (the Division) during the ongoing shutdown.
According to the Q&A, the Division’s activities are limited during the shutdown, and registrants are unable to accelerate the effectiveness of their registration statements. However, the SEC’s Electronic Data Gathering, Analysis and Retrieval (EDGAR) filing system is accepting registration statements, offering statements and other filings.
The Nasdaq Stock Market has separately indicated that it will list a company’s equity provided that it has cleared SEC comments, even if the company’s initial public offering (IPO) registration statement has not been declared effective by the SEC, provided that the company otherwise meets initial listing requirements.
A limited number of staff members from the Division of Corporation Finance are available to answer questions relating to fee calculations and emergency filing relief. However, SEC staff will not be able to review or respond to other requests for written or oral guidance on legal and interpretive questions during the shutdown. SEC registrants seeking such assistance should contact CFEmergency@sec.gov.
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