The Securities and Exchange Commission Wednesday issued public companies contending with the coronavirus a 45-day delay to submit certain reports currently due between March 1 and April 30.
The companies slated for the relief are those located in affected areas or have operations in those regions. The effects of the coronavirus may present challenges for these companies that are required to provide information to trading markets, shareholders, and the SEC. The delay applies to filings like quarterly and year-end reports.
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SEC Chairman Jay Clayton said that “the health and safety of all participants in our markets is of paramount importance. While timely public filing of Exchange Act reports is a cornerstone of well-functioning markets, we recognize that this situation may prevent certain issuers from compiling these reports within required timeframes.”
The SEC may further extend the delay or provide additional relief as circumstances warrant regarding the virus.
The delay from the SEC comes as the Centers for Disease Control and Prevention announced Wednesday that there are 149 coronavirus cases and 10 deaths in the United States. Los Angeles County declared a health emergency after discovering that six new cases of the virus. Four new cases of the virus were found in New York.
