Title

No SEC Shutdown
Client Memorandum

Created date

9/27/2013

The SEC has posted on its website that it “will remain open and operational in the event the federal government undergoes a lapse in appropriations on October 1.  Any changes to the SEC’s operational status after October 1 will be announced on this website.”  We understand that this means that all SEC operations, including review and acceleration of effectiveness of registration statements for securities offerings, review of periodic reports and other filings, rulemaking and interpretative advice, staff no-action letters and applications for exemptive relief will continue in the ordinary course until further notice.