Advisories October 12, 2022

Securities Law Advisory: SEC Reopening Comments After Technical Issues

Executive Summary
Minute Read

The Securities and Exchange Commission has reopened comments for nearly two dozen proposed rules and other matters. Our Securities Group details the list that includes some controversial rules about cybersecurity, SPACs, and climate change.

  • The decision affects 11 rulemaking proposals, one request for comment, and eight SRO matters dating back to June 2021
  • The new comment periods will remain open for 14 days after publication
  • Resubmitted comments will be treated as on time

On Friday, October 7, 2022, the Securities and Exchange Commission (SEC) reopened public comment periods for 11 rulemaking proposals and one request for comment. Additionally, the SEC will evaluate any resubmitted comments on the below self-regulatory organizational matters. Technological errors during the comment periods had prevented the SEC staff from receiving and reviewing a number of comments submitted through the internet comment form. The technological error is known to have occurred as early as June 2021, and the SEC states that the majority of affected comments were submitted in August 2022. The comment periods have been reopened to provide an opportunity for interested persons to submit comments.  

The comment periods will remain open until 14 days following publication of the reopening release in the Federal Register. Interested persons may submit comments in accordance with instructions included in the reopening release. The SEC advises commenters to check relevant comment files on to determine if a submitted comment was received and posted. Comments that were submitted but have not been posted may have been lost due to the technological error.

The SEC has reopened the public comment periods for the below proposed rules; they address a number of significant topics, including disclosure requirements in connection with climate change, share repurchases, and cybersecurity. Comments that are resubmitted will be treated as if they were submitted during the original period.

Below is a list of proposals that may be particularly relevant to public companies:

The comment periods for these more generally applicable proposals have been reopened:

Lastly, the SEC will evaluate resubmitted comments for the following self-regulatory organization matters:

Media Contact
Alex Wolfe
Communications Director

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