SEC employees are returning to work, but response times may take longer than usual. Unless there is an articulated need for expedited treatment, the SEC expects to address matters in the order in which they were received. It is too soon to quantify the anticipated duration of any delays, or when the SEC will clear the backlog of requests contributing to delays.
SEC Goes Back to Work, but Slow Response Times Are Expected
The U.S. Securities and Exchange Commission (SEC or the Commission) has recommenced “normal” operations, but response times may be longer than usual unless there is an articulated need for expedited treatment.1
On January 26, 2019, Chairman Jay Clayton announced that approximately 4,500 SEC employees are returning to work, both in Washington and across the country, but the agency is “continuing to assess how to most effectively transition to normal operations.”2 Subsequently, certain SEC offices and divisions have issued similar statements generally stating that absent compelling circumstances, the SEC expects to address matters in the order in which they were received.
Sidley Austin LLP provides this information as a service to clients and other friends for educational purposes only. It should not be construed or relied on as legal advice or to create a lawyer-client relationship. Readers should not act upon this information without seeking advice from professional advisers.
Attorney Advertising—Sidley Austin LLP, One South Dearborn, Chicago, IL 60603. +1 312 853 7000. Sidley and Sidley Austin refer to Sidley Austin LLP and affiliated partnerships, as explained at www.sidley.com/disclaimer.
© Sidley Austin LLP