Category: Alerts

Alaric Compliance Alert: Impact of SEC Shutdown Grows

n the January 3, 2019 Law 360 article by Jody Godoy, “Current SEC Shutdown May Set New Record,” Guy Talarico, the CEO of Alaric Compliance Service, was quoted regarding the effect of what could be the U.S. Securities and Exchange Commission’s longest shutdown. While the SEC has prioritized stopping imminent investor loss, investigations and other work is on hold.

Some of the SEC activities impacted by the shutdown include registration of newly formed investment advisers, law cases, review of financial statements (10-Ks), the vetting of IPO offerings and the conducting of compliance examinations.

Regarding examinations, Alaric Compliance Services received word from the SEC this week that an exam the firm is handling was paused due to the shutdown. “This news was double edged: [Guy] Talarico said there was a moment of relief but that his client wants the examination to be over with.”

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The effects of the shutdown are growing and are presenting firms with unexpected challenges that may have long term implications for their business.

Alaric is continuing to monitor this situation. If you have any questions or need help in mitigating the effect of the shutdown please contact us at 1-888-243-2448 or email info@alariccompliance.com.

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