The SEC previously issued an order that, subject to certain conditions, provided publicly traded companies with an additional 45 days to file certain disclosure reports. The current relief provided public companies with a 45-day extension to file certain disclosure reports that would otherwise have been due on or before July 1, 2020. In a public statement captioned “An Update on the Commission’s Targeted Regulatory Relief to Assist Market Participants Affected by COVID-19 and Ensure the Orderly Function of our Markets” the SEC noted the relief would not be extended because in their view it was not necessary. We encourage public companies to prepare for filing periodic reports for periods ended June 30, 2020 on a schedule that does not contemplate any relief from the SEC.
The noted public statement also provides a useful summary of the status of SEC relief on other matters related to COVID-19.
Stinson is holding a webinar on July 7, 2020, from 11:30 to 1:00 Central Daylight Time, on “Preparing the Second Quarter Form 10-Q in Light of COVID‑19 and Associated Issues.” You can register for the webinar here. We anticipate CLE being available for Arizona, Colorado, Kansas, Minnesota, Missouri and Texas.