SEC Provides Temporary Relief for Issuers Using Reg CF & Reg A+ Impacted by Hurricane Michael
According to CrowdFundInsider.com, the SEC has issued temporary rules for companies impacted by Hurricane Michael that issued securities under Regulation Crowdfunding and Regulation A.
The “Interim final temporary rule” issued by the SEC on October 16th, provides that an issuer subject to the reporting requirements of either Regulation Crowdfunding or Regulation A is exempt from any requirement to file specified reports or forms with the SEC where the conditions below are satisfied:
(a) The issuer is not able to meet a filing deadline due to Hurricane Michael or its aftermath;
(b) The issuer files with the Commission, on or before November 23, 2018, the report or form required to be filed pursuant to either Regulation Crowdfunding or Regulation A during the period from and including October 10, 2018 to and including November 21, 2018; and
(c) In any such report or form, the issuer discloses that it is relying on the interim final temporary rules and states the reasons why, in good faith, it could not file such report or form on a timely basis.
Learn more HERE.