Division of Trading Markets

March 23, 2023

Due to a lapse in appropriations for the federal government, the Division of Trading and Markets will not be available to respond to any questions about pending or upcoming matters. During the closure, if there is an emergency matter, please email TMEmergency@sec.gov. Please understand that federal law and regulations require us to cease with regular activities and our ability to respond to questions are limited by those regulations.

Regardless of our operating status, EDGAR will accept registration statements and other filings, however, staff will be unable to process filings, provide interpretive advice, issue no-action letters or conduct any other normal Division activities.

The Electronic Form Filing System (EFFS) system for SRO proposed rule changes will remain functional and able to accept submissions. Under Exchange Act Rule 19b-4, any day on which the Commission is not open for regular business as a result of a lapse in appropriations (or for certain other reasons) is not a "business day" as that term is used in Section 19 of the Exchange Act and Rule 19b-4 thereunder. As a result, any SRO proposed rule change submitted through EFFS on a day on which the Commission is not open for regular business will have as its filing date the next business day after the Commission opens for regular business (e.g., the next business day after a shutdown has ended).