Foley & Lardner LLP partner James Lundy shared insight from his tenure with the U.S. Securities and Exchange Commission on how the agency is navigating the latest federal government shutdown in the Law360 article, “Here’s How The SEC Survived 2 Prior Shutdowns.”
Lundy, who was with the SEC in 2013 when the federal government shut down for sixteen days, said that though the experience at the time was “jarring,” agency staff appear more prepared for the shutdown this time, with staff reaching out to him to extend deadlines for active client matters.
“There is definitely a plan in place for the staff to be proactive, and I think that’s based on lessons learned in the 2013 and 2018 shutdowns,” Lundy said. He added that despite the shutdown, some SEC litigation may carry on as the agency’s shutdown plan anticipates keeping some enforcement attorneys active to address emergencies and other priority matters.
(Subscription required)
