In crisis, it’s imperative to keep informed about regulatory developments that may affect public company operations and compliance obligations. In light of the recent Hurricanes Milton and Helene, we want to bring your attention to the Securities and Exchange Commission’s (SEC) response and its potential implications for your business.
SEC’s Monitoring and Potential Relief
The SEC has announced that it is closely monitoring the impact of both Hurricane Milton and Hurricane Helene on investors and capital markets. This vigilance extends to several key areas that may affect public companies:
- Filing Deadlines: The SEC is evaluating the possibility of granting relief from filing deadlines for those affected by the storms. This could provide crucial flexibility for companies struggling to meet reporting obligations due to hurricane-related disruptions.
- Regulatory Requirements: Beyond filing deadlines, the SEC is also considering potential relief from other regulatory requirements. While specifics have not been provided, this could encompass a range of compliance obligations.
- Ongoing Monitoring: Various SEC divisions and offices that oversee regulated entities, including public companies and their auditors, will continue to track developments related to both hurricanes.
Action Items for Public Companies
Given this information, we recommend that our public company clients consider the following actions:
- Assess Impact: Evaluate how Hurricanes Milton and Helene have affected your operations, financial reporting processes, and ability to meet SEC filing deadlines.
- Document Challenges: Maintain detailed records of any hurricane-related disruptions that may impact your ability to comply with SEC requirements.
- Communicate Proactively: If you anticipate difficulties meeting filing deadlines or other regulatory requirements, we strongly encourage you to reach out to the appropriate SEC staff as soon as possible.
Key SEC Contacts
The SEC has provided contact information for various divisions and offices. Depending on your specific needs, you may want to reach out to:
- Division of Corporation Finance: Phone: 202-551-3500; Click here for an online submission form
- Division of Examinations (Miami Regional Office): Phone: 305-982-6300; Email: miami@sec.gov
- Division of Examinations (Atlanta Regional Office): Phone: 404-842-7600; Email: atlanta@sec.gov
For a complete list of contacts, please refer to the SEC’s official announcement.
Investor Protection and Fraud Prevention
The SEC has also emphasized its commitment to protecting investors during this vulnerable time:
- Fraud Vigilance: The SEC’s Division of Enforcement will be actively prosecuting any attempts to defraud hurricane victims
- Investor Resources: Investors are encouraged to use the free search tool on Investor.gov to check the background of anyone offering investments
- Reporting Suspicious Activity: Any suspicious solicitations should be reported online by submitting a tip or complaint form
Additional Resources
For comprehensive information about the government’s response to these hurricanes, including assistance programs that may benefit your business or employees, please refer to the following resources:
- For Hurricane Milton:
- For Hurricane Helene:
How Grassi Can Help
As your trusted advisors, we at Grassi are here to assist you in navigating these challenging times. Our services include:
- Assessing the impact of the hurricanes on your financial reporting and SEC compliance
- Helping you communicate effectively with the SEC regarding any filing difficulties
- Reviewing and updating your disaster recovery and business continuity plans
- Assisting with insurance claims and related financial implications
Don’t hesitate to reach out to your Grassi representative or Lou Pizzileo, Partner and SEC & Capital Markets Services Leader, for personalized assistance in addressing these regulatory challenges and maintaining compliance during this difficult period.
Stay safe and remember that we’re here to support you through these unprecedented times.
