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The SEC responded to the COVID-19 pandemic by providing public companies with a 45-day extension to file certain disclosure reports that would otherwise have been due on or before July 1, 2020. In a statement dated June 26, 2020, the SEC declined to extend this relief beyond July 1.
On June 23, 2020, approximately two months after issuing “CF Disclosure Guidance: Topic No. 9,” the SEC’s Division of Corporation Finance issued “CF Disclosure Guidance: Topic No. 9A” to provide additional guidance regarding operations, liquidity, and capital resources disclosures companies should consider with respect to COVID-19.
On June 23, 2020, with many public companies preparing for their second quarter financial reporting process, the SEC’s Chief Accountant issued a statement emphasizing the continued importance of high-quality financial reporting in light of the significant impacts of COVID-19.
Trump Amends Proclamation to Suspend Entry of Nonimmigrant Workers, With Exceptions; USCIS Issues Statement
On June 29, 2020, President Trump issued an amendment to his Presidential Proclamation issued June 22, 2020.
Effective immediately, a long list of field offices will only accept payments in the form of a personal, attorney or business check; debit or credit card; or reloadable prepaid credit or debit card.
The SEC recently adopted temporary final rules to expedite the offering process for small businesses affected by COVID-19 that are seeking to meet their funding needs through the offer and sale of securities pursuant to Regulation Crowdfunding.
USCIS has extended the flexibilities it announced on March 30, 2020, to assist applicants and petitioners responding to certain agency requests.
USCIS is expected to furlough more than two-thirds of its employees as of August 3, 2020, for at least a month and up to three months or more.
In Response to Recent Corporate Statements on Racial Justice, New York Comptroller Urges Companies to Disclose Workforce Diversity Data
On July 1, 2020, New York City Comptroller Scott M. Stringer announced an initiative calling on companies who recently issued supportive statements on racial equality to publicly disclose the composition of their workforce by race, ethnicity and gender.