The SEC Weighs In on Reporting Related to COVID-19
On January 30, SEC Chairman Jay Clayton issued a statement identifying coronavirus as a potential concern, calling the threat “an uncertain issue where actual effects will depend on many factors beyond the control and knowledge of issuers.” The SEC issued a joint statement explaining that the commission wants to help issuers, including granting relief from deadlines as appropriate and providing guidance to them regarding reporting.
On March 4, companies were reminded “to provide investors with insight regarding their assessment of, and plans for addressing, material risks to their business and operations resulting from the coronavirus to the fullest extent practicable to keep investors and markets informed of material developments.” It further outlined disclosure considerations.
