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.

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Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 7:30 p.m. ET: 11,565,541 — Total deaths: 536,658 — Total recoveries — 6,258,697Map.
  2. U.S.: Total confirmed cases as of 7:30 p.m. ET: 2,922,000 — Total deaths: 130,208 — Total recoveries: 924,148 — Total tested: 36,032,329Map.
  3. Public health: Case growth outpacing testing in hotspots.
  4. States: West Virginia becomes latest state to mandate facial coverings in public.
  5. Politics: Atlanta Mayor Keisha Lance Bottoms tests positiveCuomo accuses Trump of "enabling" the coronavirus surge — Sen. Chuck Grassley opts out of attending GOP convention over coronavirus concerns.