COVID-19 Coverage: SEC issues statement on comment periods

Comment Periods for Certain Pending Actions

Certain of the Commission’s proposed actions have comment periods that will expire in March. We understand that challenges associated with COVID-19 may delay the completion and submission of some comment letters. The Commission and staff have historically considered comments submitted after a comment period closes but before adoption of a final rule or order, consistent with the Commission’s Informal and Other Procedures (17 C.F.R. 202.6). For each of the pending items listed below, the Commission will not take final action before April 24th in order to allow commenters additional time if needed.

  • Amendments to Rule 2-01, Qualifications of Accountants, File No: S7-26-19, Release Nos.: 33-1073834-87864, FR-86, IA-5422, IC-33737;
  • Amending the “Accredited Investor” Definition, File No: S7-25-19, Release Nos.: 33-1073434-87784;
  • Disclosure of Payments by Resource Extraction Issuers, File No: S7-24-19, Release No. 34-87783;
  • Use of Derivatives by Registered Investment Companies and Business Development Companies; Required Due Diligence by Broker-Dealers and Registered Investment Advisers Regarding Retail Customers’ Transactions in Certain Leveraged/Inverse Investment Vehicles, File No. File No: S7-24-15, Release Nos.: 34-87607, IA-5413, IC-33704; and
  • Notice of Proposed Order Directing the Exchanges and the Financial Industry Regulatory Authority to Submit a New National Market System Plan Regarding Consolidated Equity Market Data, File No. 4-757, Release No. 34-88340.

The Commission is operational and we encourage market participants to submit comments on the most reasonable possible timeframe. The Chairman will continue to consult with fellow Commissioners and staff and make adjustments to the list above as necessary.

*The Statement can be found here.