SEC chairman Jay Clayton testifies during the House Financial Services Committee hearing, Oct. 4, 2017. Photo: Bill Clark/CQ Roll Call

The Securities and Exchange Commission said on Wednesday it would give coronavirus-impacted companies more time to file key financial documents — including quarterly reports — on a conditional basis.

Why it matters: It's among the first agencies to announce regulatory relief for corporations affected by the coronavirus outbreak.

  • If granted an extension by the SEC, Wall Street may get details about whether the coronavirus hurt these companies' bottom lines — and by how much — later than usual.

Details: Companies that can show they need extra time because their operations have been impacted by the outbreak may get a 45-day extension to file regulatory documents.

  • "Disruptions to transportation, and limited access to facilities, support staff, and professional advisors as a result of COVID-19, could hamper the efforts of public companies and other persons with filing obligations to meet their filing deadlines," the SEC notes.

What they're saying: The "situation may prevent certain [companies] from compiling these reports within required timeframes," SEC chairman Jay Clayton said in a press release.

  • But Clayton warned companies "to provide investors with insight regarding their assessment of, and plans for addressing, material risks to their business" as a result of the coronavirus.

Go deeper

Updated 46 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 a.m. ET: 31,092,895 — Total deaths: 961,301— Total recoveries: 21,274,210Map.
  2. U.S.: Total confirmed cases as of 9 a.m. ET: 6,812,470 — Total deaths: 199,517 — Total recoveries: 2,590,671 — Total tests: 95,108,559Map.
  3. Health: CDC updates guidances to say coronavirus can be spread through the air Nursing homes are evicting unwanted patients.
  4. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right."
  5. Education: College students give failing grade on return to campus.
  6. Business: Unemployment concerns are growing.
  7. World: "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.
Ben Geman, author of Generate
1 hour ago - Energy & Environment

The climate stakes of the Supreme Court fight

Illustration: Aïda Amer/Axios

Ruth Bader Ginsburg's death and the battle over her vacant Supreme Court seat have real implications for energy and climate policy.

Why it matters: If President Trump replaces her, the court will likely become more skeptical of regulations that claim expansive federal power to regulate carbon under existing law, and perhaps new climate statutes as well.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

The tech war between the U.S. and China escalates

Illustration: Aïda Amer/Axios

Economic tension between the U.S. and China continues to escalate but is shifting in focus — away from the tit-for-tat trade war and toward a more direct confrontation over the future of technology at the heart of the conflict between the world's two largest economies.

Why it matters: The battle between the U.S. and China was always about tech supremacy and the direct confrontation could result in an accelerated splintering of global supply chains and a significant reduction of international commerce.