Written by Chris Prentiss and Pete Schroeder
NEW YORK/WASHINGTON (Reuters) – The Securities and Exchange Commission and top financial industry groups said they are closely monitoring the impact of Hurricane Milton on investors and capital markets.
The SEC said in a statement Wednesday that it will consider possible loosening of regulatory requirements for those affected by the storm.
The Securities Industry and Financial Markets Association (SIFMA) said in a separate statement that it believes its Florida member companies are prepared for the storm.
The SEC, which oversees companies, accountants, investment advisers and other financial professionals, will continue to track developments and consider relaxing filing deadlines and other regulatory requirements for companies affected by the storm. The agency added that it continues to monitor the past effects of Hurricane Helen, which devastated other parts of the United States, including North Carolina.
Stephen Byron, managing director of SIFMA, said in a statement that the group frequently engages in drills with its members on a variety of emergency response plans, including hurricanes. He added that the group is also in contact with relevant government agencies.
“Our business continuity planning efforts and exercises with broad participation from our member companies are designed to ensure the industry is as prepared as possible for a large-scale event like this,” he said.
“We are in touch with our member companies geographically located in Florida and have high confidence in their and the broader industry’s ability to prepare for, respond to, and recover from emergencies.”
(Reporting by Chris Prentice and Pete Schroeder; Editing by Emelia Sithole-Matarise)
