SEC chair Paul Atkins talks about the impact of the government shutdown on markets and three companies that prevent ‘companies’ from fleeing the ‘Claman extinction.’
The chairman of Wall Street’s Watchdog, security and the Securities Commission (sec), Paul Atkins, referred to the negative impact of the government shutdown on the markets and how he intends to “make IPOS FAST again” on Monday. “
“We can’t process these considerations under the laws as they stand … with this government statement,” Atkins told FOX Business Anchor Liz Claman.
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Combined with the greening of publicly traded companies and market cap holdings, the sec used to have more than 4,200 people on staff before the government shutdown. Now, less than 10% of the workforce remains, with less than 400 employees remaining to monitor the markets.
In addition, the SEC has half of the organization of public companies as it did 30 days ago, the Chairman lamented.
The Seal of the US Securities and Exchange Commission (sec) is seen at its headquarters in Washington, DC, US, May 12, 2021. (Andrew Kelly / Reuters / Reuters)
However, Attin explained that the sec was “silenced” during the government shutdown, allowing two companies to become IPoS last week.
“It was the original method that was created by the Congress Act of 1933, which means, basically, you file your registration statement with your new security offering, and you wait publicly and sell your security,” explained your chances.
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The SEC chairman said that several companies are already taking advantage of this expedited process.
“Approximately 20 other companies had already gone through the appropriate evaluation measures with our employees,” Atkins said. “And so we said you can pull your delay amendment, as we call it, and it goes before 20 days.”
The sec allowed malight and navon as IPOS under the law, the Attins said, adding that “there may be others” soon.
The intersection of pennsylvania avenue that runs east near the US Capitol. Forty-eight states and the District of Colombia observe daylight saving time for eight months of the year. (Tom Brenner / Reuters / Reuters)
“I understand that someone can be tomorrow,” he added.
When Claman asked how the SEC could ensure financial instability and other problems would still be caught in the capital markets, Atkins replied that the law only helps a small group of companies that have already left. ‘
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“They were in the final comment phase,” he said. “Hopefully, this shutdown will end soon so we can get back to work, review the charts, and watch the markets as we usually do.”
Explaining his effort to ‘make IPOS Good again,’ Atkins lists several factors that prevent companies from going public.
Stock market chart in 100 dollar currency base
He stressed that a company’s risk-factor disclosure should not be “one big section” in its annual report.
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“We will welcome companies that will go public with a mandated food provision, flexible ‘flexible’ capital provisions, or both,” Atkins said.
