In a surprising development, the U.S. Securities and Exchange Commission (SEC) announced that they would reopen the comment period on specific rulemaking releases between June 2021 and August 2022. The extension is due to “a technological error that resulted in a number of public comments submitted through the Commission’s internet comment form not being received by the Commission.” Eleven SEC rulemakings were affected by the error and including the expanded rules for cybersecurity, the new private fund audit requirements, the names rule, and rules for the ESG disclosure by investment advisers.
Click here to see the complete list of affected releases.
What does this mean for me?
The SEC does not typically provide these kinds of extensions, so investment advisers should take advantage of the extra time. If you have submitted a comment on one of the affected releases, check to make sure it has been received. If you were planning to submit a comment but ran out of time, now you can do so. Commenters will have 14 days from publication of the reopening release in the Federal Register.
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