The shutdown, which began at midnight, will force the Securities and Exchange Commission to furl more than 90% of its workforce, to handle emergency implementation actions and market surveillance, according to its contingency plan.
Reuters reports that the agency, which notifies thousands of listed companies, exchanges, broker-dealers and funds, notify the staff for the preparation of shutdown on Tuesday evening.
CFTC, which monitors derivatives markets, plans to operate with only 7.7% of its 543 people, which will continue to ensure market monitoring and prevent fraud and abuse, CFTC said in a plan published on Tuesday evening.
While markets are usually removed from the previous short -term shutdown, will delay or cancel a major economic data for a long time, investors will use to evaluate macro economic trends, creating potential property instability. Wall Street Futures and De Dollar Lur stumbled on Wednesday, while the gold record was high.
Routine company SEC filings will continue, but the agency will not be able to process IPOs, potentially dampening the recent IPO market resurgence. “The shutdown gives investors the reason for whether to buy new deals at the time of political uncertainty,” said Samuel Care, head of the equity capital markets at the merger market.
“The shutdown now has the immediate effect of the spirit of harmful investors and the long -term effect of the IPO pipe filled.” Since SEC’s trading and remaining filings in the markets, according to the agency’s shutdown plan, the long shutdown will also delay the expected approvals of numerous crypto exchange-traded fund products next week. Analysts expected ETFs associated with cryptocurrencies Solana and XRP at the beginning of October Chatber.
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