On March 25, the SEC announced a 45-day filing extension for certain public company disclosure reports due between March 1 and July 1. The SEC also announced certain filing and delivery requirement exemptions under the Investment Advisers Act of 1940 as well as additional time to hold in-person board meetings. Release.
On October 14, the Division of Corporation Finance of the SEC issued guidance on preparing legality and tax opinions filed in connection with registered offerings of securities. The bulletin outlines: (i) the requirements for such opinions; (ii) the SEC’s opinion review practices; and (iii) the nature of the written consent that must be filed by counsel with each registration statement. SEC Bulletin.
