U.S. government shutdown would halt IPOs and market surveillance, SEC's Gensler warns

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A U.S. government shutdown would prevent the SEC from overseeing markets, as well as initial public offerings and issuance of new stocks and bonds.

The U.S. government will shut down this weekend absent a last-minute funding deal from Congress, and that could lead to significant disruptions for stock and bond markets, according to the nation’s top securities regulator.

“The public won’t have somebody, really at full force, overseeing the market or companies that want to go public,” Gensler said Wednesday, adding that a shutdown could stop many public companies from issuing new debt or equity to fund their operations. The SEC would still be able to accept tips and complaints from the public, but won’t have the staff available to follow up on these issues, unless they relate to an emergency situation that presents and imminent and significant threat to the protection of property, Gensler said.

 

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