Policy & Regulation

SEC Issues Filing Obligation Relief to Companies Affected by Coronavirus

SEC Issues Filing Obligation Relief to Companies Affected by Coronavirus

On March 4, 2020, the Securities and Exchange Commission announced that it is providing conditional regulatory relief from certain filing obligations under the federal securities laws to public companies impacted by the coronavirus disease (COVID-19). To implement the relief, the SEC issued an Order that, subject to certain conditions, provides publicly traded companies with an additional 45 days to file Exchange Act reports that would otherwise have been due between March 1 and April 30, 2020.  

On March 6, 2020, Nasdaq published Issuer Alert 2020-1, which describes the impact of the SEC Order under Nasdaq rules. Nasdaq-listed companies impacted by the COVID-19 outbreak that satisfy the conditions in the Commission’s Order and are eligible for the 45 day extension to file will not be deficient under Nasdaq Rule 5250(c) for failing to file Exchange Act reports by the existing deadlines.  Additionally, a company that satisfies the conditions and requirements in the Commission’s Order is exempt from Regulation 14A (including Rule 14a-16) with respect to shareholders in affected areas and therefore will satisfy Nasdaq Listing Rules 5250(d) and 5620(b). 

The COVID-19 outbreak also may create challenges and difficulties for some companies in satisfying other Nasdaq Listing Rules. Companies so impacted, or that have any questions regarding the application of the Commission’s Order to the Nasdaq Listing Rules, may contact their Listing Analyst or the Nasdaq Listing Qualifications Department at +301-978-8008 or

FOR MORE INFORMATION READ>>Issuer Alert 2020-1: Impact under Nasdaq Rules of SEC Relief to Companies Affected by Coronavirus

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.