NEWS

Hurricane Milton push SEC towards possible capital market changes

By Muskan Arora

The Securities and Exchange Commission (SEC) may waive any filing deadlines and other regulatory requirements for investors, owing to the possible effects of Hurricane Milton.

The hurricane made landfall in Florida earlier this month, causing damage of up to $175bn in a worse-case scenario, as stated by a property and casualty insurance analyst at Jefferies Group.

Moreover, investors affected by Hurricane Helena, which hit the southeastern U.S. in late September will also be considered.

The SEC division which regulates companies, accountants, investment advisers, mutual funds, brokerage firms, transfer agents, and other regulated entities and investment professionals will be closely monitoring developments, as stated in the press release.

“Entities and investment professionals affected by Hurricane Milton or Hurricane Helene are encouraged to contact SEC staff with questions and concerns,” as stated in the press release.

Hurricane Beryl was the first Atlantic in 2024 in early July with the earliest category 5 hurricane on the record. This was an above-average storm activity in the Atlantic owing to the abnormally high-water temperatures.

Till date, there have been 13 storms reported, including nine hurricanes. 


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