For those of you interested in the impact on the SEC of a possible government shutdown tonight, the agency has now issued its own "Update Regarding SEC Functions During the Federal Government Shutdown." In short, the agency says, if there is a shutdown, the Commission will have only an "extremely limited number of staff members available to respond to emergency situations involving the safety of human life or the protection of property, including law enforcement."

Here are the ways certain SEC functions will be affected, according to the agency:

EDGAR: The Commission's EDGAR system will remain fully functional, but the Divisions of Corporation Finance, Investment Management, and Trading and Markets, and the Office of Compliance Inspections and Examinations will be unable to process filings, provide interpretive advice, issue no-action letters or conduct any other normal Division and Office activities. This means that "new or pending registration statements or applications for exemptive relief will not be processed regardless of the status of any review of those filings."

Tips, Complaints and Referrals: The Division of Enforcement will have a limited number of staff on duty during a shutdown to "respond to certain critical matters, including allegations of ongoing fraud and misconduct." Tippees should continue to use the Tips, Complaints, and Referrals website.

Investor Complaints: The Office of Investor Education and Advocacy will have a limited number of staff on duty to review investor complaints submitted through the investor complaint form, but will be unable to respond to complaints, questions, or requests for information.

Comment Letters and Public Input: Comment letters can still be submitted during a shutdown but there likely will be delays in posting them.

Public Reference Room: Will be closed and "all requests for information under the Freedom of Information Act will not be processed during this time."

Mail Delivery: A limited number of staff will continue to process incoming mail, but there will be delays in processing and delivery to Commission staff.

For the full Update on shutdown procedures, including information on IARD, CRD and EFFS, please visit this link.

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