SEC Approves Further Regulatory Relief and Assistance for Hurricane Sandy Victims


Washington, D.C., Nov. 14, 2012 — The Securities and Exchange Commission today issued an order providing regulatory relief to publicly traded companies, investment companies, accountants, transfer agents, and others affected by Hurricane Sandy.

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The loss of property, power, transportation, and mail delivery due to the hurricane poses challenges for some public companies and others that are required to provide information to the SEC and shareholders. To address compliance issues caused by Hurricane Sandy and its aftermath, the order conditionally exempts affected persons from the requirements of the federal securities laws with regard to the following:

In addition, the Commission has directed the staff to take the following positions under the Exchange Act, the Securities Act, and the Investment Advisers Act, regarding issues that may arise commonly for companies and others attempting to comply with their obligations under the federal securities laws:

The relief is structured for a broad class of companies and others affected by Hurricane Sandy. Some companies and other affected persons may require additional or different assistance in their efforts to comply with the requirements of the federal securities laws. The Commission staff will address these and any disclosure-related issues on a case-by-case basis in light of their fact-specific nature.

Any companies, transfer agents, brokerage firms, investment companies, investment advisers, security holders or other persons requiring additional assistance are encouraged to contact Commission staff for individual relief or interpretive guidance.