Understand How The SEC Delinquent Filings Program Works

In 2004, the Securities and Exchange Commission (SEC) instituted the Delinquent Filings Program and created the Delinquent Filings Branch as part of its Division of Enforcement. The Delinquent Filings Branch was instituted to encourage publicly traded companies that are delinquent in the filing of their required periodic reports (Forms 10-K and 10-Q) under the Securities Exchange Act of 1934 (Exchange Act) to provide investors with accurate financial information upon which to make informed investment decisions. The securities registrations of issuers that fail to make their required periodic filings are subject to suspension or revocation by the SEC and other enforcement proceedings.

Since it was instituted, the SEC Delinquent Filings Branch has suspended the trading and/or revoked the registration of thousands of companies, often in sweeps of large groups of filers in a single day. Generally, a delinquent filer will receive a letter from the SEC giving the Company 15 days to make the filings current. If such filings were not made present during that time, the SEC would institute administrative proceedings to revoke the registration of the company’s securities.

The Importance Of Having A Knowledgeable Lawyer For SEC Filings

Complying with the SEC reporting requirements is highly technical. The company and individual signing officers are liable for the contents of such reports. Accordingly, the assistance of qualified SEC counsel is highly recommended and imperative in this process.

We can act as professional guides for navigating these complex and fast-changing regulatory environments at ANTHONY, LINDER & CACOMANOLIS, PLLC. Speak with one of our attorneys today by calling 877-541-3263 or visiting our contact page. We can address any concerns or technical inquiries during your initial consultation.