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SEC Extends Filing Deadlines for Victims of Hurricane Michael, Warns Investors Against Scams

October 30, 2018

Less than a month after providing regulatory relief to companies affected by Hurricane Florence, the SEC has now provided similar relief to those affected by Hurricane Michael. In an October 16 press release, the SEC said that companies hit by Michael will receive an extension on certain filing deadlines. To address compliance issues caused by Michael, the SEC issued an order that exempts affected companies from certain filing requirements, including requirements to file periodic reports, annual reports and proxy statements. Companies affected by Michael have until November 23 to file reports ordinarily due between October 10 and November 21.

The SEC also adopted interim final temporary rules that extend the filing deadlines for certain reports that companies must file pursuant to Regulation Crowdfunding and Regulation A. This grace period will also last until November 23 for those affected by Michael.

The October 16 press release acknowledges that “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.” Those requiring additional assistance are encouraged to contact the SEC for individual relief or interpretive guidance.

The SEC’s October 16 press release follows an earlier release issued on October 10, the date Michael made landfall on the Florida Panhandle. In its October 10 release, the SEC warned that “investors should be vigilant for Hurricane Michael-related securities scams and check the background of anyone offering them an investment by using the free and simple search tool on Investor.gov.” Any suspicious investment solicitations should be reported at www.sec.gov/complaint/tipscomplaint.shtml.

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