SEC announces plans in the event of a shutdown
By Edward J Johnsen
The Securities and Exchange Commission (SEC) has announced that it will remain open and operational in the event of the federal government lapse in appropriations on 1 October. Changes to its operational status after 1 October will be announced on the SEC website. The SEC has not shut down operations yet.
The SEC has also issued an operational plan in the event of an SEC shutdown.
If there is a lapse in appropriations resulting in an SEC shutdown, the SEC will continue only certain functions, including those briefly needed to ensure the orderly shutdown of functions that will not continue during the lapse. Functions that qualify for continuation during the lapse include those related to emergencies involving the safety of human life or the protection of property (including law enforcement functions); those for which there is express authority to continue during a lapse; and those for which authority to continue arises by necessary implication. The SEC must initiate the orderly shutdown of activities not considered essential…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
The Trust Deficit: After the Crash report suggests that trust between business, politics and the media has broken down completely.
This update contains a summary of news and legal developments that have affected the banking and finance industry over the last month.
Analysis from The Lawyer
The fragile refinance market is back in rude health and US-style alternative lenders are stepping up with innovative structures to sustain the recovery
The Lawyer’s latest Top 50 litigation firms list shows that business for dispute specialists is roaring along while new in-depth detail reveals the winning strategies