Government Shutdown Watch: Implications For The SEC

The continuing resolution funding the federal government is set to expire at midnight, and if Congress does not take action today, a lapse in appropriations will directly impact the operations of the SEC. The last time that a government shutdown occurred for a significant period of time was in 2018, when the lapse in appropriations lasted for 35 days. In the event of a lapse in appropriations beginning tomorrow morning, the SEC will operate under its Operations Plan under a Lapse in Appropriations and Government Shutdown.

In anticipation of a potential government shutdown, the SEC's Division of Corporation Finance recently republished its announcement titled Division of Corporation Finance Actions in Advance of a Potential Government Shutdown, which provides guidance on the Division's operations during a government shutdown. This guidance closely tracks the guidance that was issued by the Staff in past government shutdown situations. The Division of Corporation