The U.S. Securities and Exchange Commission (SEC) has extended exemptions from certain reporting requirements due to the Covid-19 outbreak.
Back on March 4, the SEC announced temporary relief from filing requirements for public companies for disclosure reports that were due between March 1 and April 30, giving firms an extra 45 days to meet their filing requirements.
Now, the SEC has extended the relief to filings due between March 1 and July 1.
“Health and safety continue to be our first priority,” said SEC chairman Jay Clayton in a statement. “These actions provide temporary, targeted relief to issuers, investment funds and investment advisers affected by Covid-19.”
“At the same time, we encourage public companies to provide current and forward-looking information to their investors,” he added.
The SEC’s corporate finance division also issued new guidance setting out its views on the securities law obligations that companies should consider due to Covid-19 related disruptions.
“The division has been monitoring how companies are reporting the effects and risks of Covid-19 on their businesses, financial condition, and results of operations and is providing the guidance as companies prepare disclosure documents during this uncertain time,” it said.
The SEC also issued orders providing investment funds and investment advisers with additional time to hold board meetings and to fulfill certain filing requirements.
The regulator said that its divisions that oversee companies, accountants, investment advisers, mutual funds, brokerage firms, and other regulated firms and financial professionals “will continue to closely track developments, and, if appropriate, consider additional relief from other regulatory requirements” for those affected by the outbreak.