From the SEC press release dated March 13, 2020:
The Securities and Exchange Commission announced on March 13, 2020, regulatory relief for funds and investment advisers whose operations may be affected by the coronavirus. The relief provided today covers in-person board meetings and certain filing and delivery requirements for certain investment funds and investment advisers. The impacts of the coronavirus may delay or prevent funds and advisers operating in affected areas from meeting certain regulatory obligations due to restrictions on large gatherings, travel and access to facilities, the potential limited availability of personnel and similar disruptions. Today’s relief is designed to enable funds and advisers to meet those obligations and to continue their operations, while recognizing that there may be temporary disruptions outside of their control.
“Investment funds and advisers are at the forefront of Main Street investor access to financial markets, and the Commission is monitoring closely the impacts of the coronavirus on investors and market participants,” said SEC Chairman Jay Clayton. “As investors, investment funds, investment advisers and other market participants endeavor to address these challenges, the Commission stands ready to take action in the interest of our investors and our markets as appropriate. Today’s targeted relief will provide additional time so affected funds and advisers can continue meeting the expectations of their investors and clients.”
The Commission and its staff continue to assess impacts relating to the coronavirus on investors and market participants, and will consider additional relief from other regulatory requirements. Firms and financial professionals affected by the coronavirus are encouraged to contact the staff with questions and concerns. The Commission may extend the time period for relief, with any additional conditions it deems appropriate, or provide additional relief as circumstances warrant.
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