US SEC would operate as normal in early weeks of shutdown
WASHINGTON (REUTERS) - The United States (US) Securities and Exchange Commission (SEC) would continue reviewing initial public offering (IPO) applications and monitoring markets as normal in the early weeks of a government shutdown, but market players are increasingly anxious about the prospect of a prolonged funding gap.
The US Securities and Exchange Commission expects to stay open on Oct 1 and to continue operating fully for a few weeks, a spokesman said, even if the rest of the federal government starts shutting down when funding runs out at midnight.
"The SEC will be able to stay open in the event of a funding lapse," spokesman John Nester said, explaining that the SEC has funds that are not available to most other US agencies.
"We have determined that our carry-over balances are sufficient to allow us to remain open for a few weeks if there is a lapse of appropriations," Mr Nester said.