In a September 19 press release the SEC indicated that companies hit by Hurricane Florence will receive an extension on certain filing deadlines. To address compliance issues caused by Florence, 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 Florence have until October 29 to file reports ordinarily due between September 14 and October 26.
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 October 29 for those affected by Florence.
The September 19 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.
Separately, on August 24, the SEC issued a fee advisory, setting the filing fees that public companies and other issuers will pay in fiscal year 2019 to register their securities with the SEC. Effective October 1, the fees paid under Section 6(b) of the Securities Act of 1933 to register securities will decrease from $124.50 per million dollars to $121.20 per million dollars, a decrease of 2.7 percent. For example, a company registering $10 million of common stock will see their registration fee decrease from $1,245 to $1,212.