SEC Establishes Cross-Divisional COVID-19 Market Monitoring Group
SEC Establishes Cross-Divisional COVID-19 Market Monitoring Group
On April 24, 2020, the United States Securities Exchange Commission (“SEC”) announced its formation of a cross-divisional COVID-19 Market Monitoring Group (the “Group”). The Group will be focused on the following tasks: (1) SEC and staff actions and analysis related to the effects of COVID-19 on markets, issuers, and investors; and (2) responding to requests for information, analysis and assistance from fellow regulators and other public sector partners.
The Group will include representatives from several SEC divisions and will also work with other federal agencies, including the President’s Working Group on Financial Markets (PWG), Financial Stability Oversight Council (FSOC) and the Financial Stability Board (FSB). The Group’s chair, S.P. Kothari, underscored the importance of the Group’s mission, stating, “The importance of understanding what is happening in the markets is greater than ever[.]” This is especially so in light of COVID-19’s substantial hit on the market.
The SEC’s full statement along with a list of the Group’s representatives and backgrounds can be found here: https://www.sec.gov/news/press-release/2020-95
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