SEC Shut-Down: Impact on Capital Markets Transactions and Public Companies (10 Law Firm Consensus Report as of 12:00 Noon EDT)
Assuming the current budget impasse cannot be resolved, the U.S. federal government will shut down as of 12:01 am, EDT, Saturday April 9, 2011. The Securities and Exchange Commission (SEC) announced yesterday that its operations will be sharply curtailed in the event of a shut-down. We have collaborated with a number of law firms to prepare questions and answers reflecting our current understanding, as well as the information made public to date by the SEC in relation to the possible shut-down.