United States

Corp Fin to release serious deficiencies letters


The SEC Division of Corporation Finance (Corp Fin) selectively reviews certain registration statements or offering documents to monitor compliance with disclosure and accounting requirements. Its review correspondence is made available publically through EDGAR no sooner than 20 business days after completing a filing review.

However, in some cases a registration statement or offering document is so deficient that Corp Fin sends the issuer a letter informing it that the filing review is deferred until it is amended to resolve the deficiencies. Corp Fin intends to make these letters publicly available through EDGAR within 10 calendar days of issuance. This will make it clear that Corp Fin believes the filing under consideration is not minimally compliant with statutory or regulatory requirements. These letters will appear in companies’ filing histories as SEC STAFF LETTER: SERIOUS DEFICIENCIES.