Regulatory deadlines still matter despite government shutdown (FinancialPlanning)

For SEC registered investment advisers, the federal government shutdown does not provide a reprieve from rule requirements, regulatory deadlines and necessary filings. FrontLine Compliance Founder and President Amy Lynch states that firms will still be able to submit the typical filings required for an SEC registrant. She points out that the SEC has automated much of its filings’ process, which will allow firm filings to continue uninterrupted, although some delays may occur. Ms. Lynch further comments that firms should continue regular compliance activities to meet rule requirements and deadlines while the shutdown continues so that when the SEC returns to full capacity, firms’ compliance obligations are up-to-date and gaps do not exist. While most SEC exams will be paused, when exams resume, the SEC will expect firms to have fully met their requirements during the exam review period that could include a portion of time during the shutdown. Ms. Lynch emphasizes that firms should still meet any SEC-imposed deadline just as they would were the federal government fully operational. See Financial Planning (subscription required), “Shutdown and the SEC: Expect headaches but no reprieve for fraudsters”