Podcast: Private Fund Regulatory Update: Post-U.S. Government Shutdown
III-39 - 2nd Anniversary Special Episode
Podcast: Keeping Up with Recent Changes and Trends in Private Fund Regulation
Despite congressional leaders reaching a deal on Wednesday for a short-term stopgap funding extension, public reporting companies and Regulation A issuers are still left in limbo as the bill, if passed, will only extend...more
In the October edition of our Public Company Watch, we cover key issues impacting public companies, including the SEC adopting rules modernizing beneficial ownership reporting and short sale reporting, and issuing new C&DIs...more
On September 27, 2023, facing the prospect of a lapse of appropriations, the staff of the Securities and Exchange Commission’s Division of Corporation Finance published a summary of the anticipated impact on its operations of...more
On September 30, 2023, the U.S. Congress passed, and President Biden signed, a stopgap funding bill to avert a government shutdown, keeping the government open through November 17, 2023. While this is welcome news, there...more
Federal law (the “Antideficiency Act”) restricts the conduct of business by agencies during a lapse of Congressional appropriations, looming this weekend, and federal regulations (OMB Circular A-11) require agencies to have...more
If U.S. congressional leaders are unable to resolve the current federal budget standoff, it is expected that much of the federal government, including the U.S. Securities and Exchange Commission (SEC), would shut down soon...more
The SEC’s Division of Corporation Finance published guidance on their operations around a shutdown, particularly with respect to registration statement acceleration of effectiveness and related topics: ...more
On September 27, 2023, the Division of Corporation Finance (Division) of the U.S. Securities and Exchange Commission (SEC) published an announcement about its anticipated operations in the event of a potential government...more
Corp Fin has posted an announcement regarding its plans in the event of a federal government shutdown. The announcement indicates that its activities would be “extremely limited.” (At a hearing yesterday before the House...more
The Cozen Lens- • Members of Congress have returned to Washington with a lengthy to-do list. Most pressing is appropriations given the potential for a government shutdown at the end of this month. Lawmakers will address...more
Introduction - Congress returns from the August recess with a robust agenda and limited time to pursue it. The calendar is further constrained by the September 30 deadline to pass appropriations packages or a continuing...more
The SEC’s EDGAR system will be closed on Tuesday, December 24, 2019, and Wednesday, December 25, 2019, due to the closure of the federal government on those two days. As a result, on December 24 and 25, 2019...more
Shutting down the United States federal government in late 2018 and early 2019 created the unfortunate perception that government watchdogs might not be able to catch up with illegal behavior, like insider trading. The...more
On January 27, 2019, the Division of Corporation Finance (the “Division”) of the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) provided guidance for issuers regarding the approach that the Division...more
California’s trouble-plagued Pacific Gas & Electric utility has filed for Chapter 11 bankruptcy, listing debts of more than $51.7 billion....more
On January 24, 2019, Nasdaq issued FAQs addressing, among other things, new listings during the government shutdown. Nasdaq noted that under the SEC’s December 2018 Operations Plan Under A Lapse in Appropriations and...more
After limiting its operations during the partial federal government shutdown, the SEC is working to resume normal operations this morning. ...more
On January 25, 2019, President Donald Trump signed into law a continuing resolution that immediately reopened the federal government through February 15, 2019. The three-week continuing resolution is a welcome development,...more
Nissan’s Carlos Ghosn problems now extend to the United States, where the Securities and Exchange Commission has opened a probe into the accuracy of the company’s financial disclosures and internal controls....more
Unless you’ve been unplugged and hiding under a rock recently, you’ve heard that the federal government shutdown has ended—at least for the next three weeks. In a statement today, SEC Chair Jay Clayton said that the SEC has...more
The federal government partial shutdown, now entering its second month, has had a severe impact upon the Securities and Exchange Commission, and its Division of Enforcement in particular, with enforcement activity coming to...more
U.S. Developments - Flood of State Virtual Currency Legislation - Since the start of the new year there have been roughly nine virtual currency bills introduced or passed in four different states. Overall, the bills...more
Although EDGAR continues to accept filings, the government shutdown has now eclipsed its 28th day and the SEC continues to operate with limited staff which is having a crippling effect on the ability of many companies to...more
How could the government shutdown affect your M&A transactions? Understand the ramifications of the shutdown through the lens of antitrust, securities and exchange commission, CFIUS, export controls and economic sanctions...more
The 10-K and proxy season begins in a little over a month for companies with calendar fiscal year-ends. The following governance and disclosure developments should be considered in the course of preparing these filings....more