The Securities and Exchange Commission is providing temporary regulatory relief for funds and investment advisors whose operations are potentially impacted by coronavirus, the regulator announced Friday evening.

The SEC said the relief aims to address both the needs of personal safety and the maintenance of reliable financial markets by covering in-person board meetings and certain filing and delivery requirements for certain investment funds and investment advisors.

Specifically, the SEC has granted exemptions of the following provisions of the Investment Advisers Act of 1940:

• Registered investment advisors and exempt reporting advisors affected by coronavirus to file an amendment to Form ADV or file reports on Form ADV part 1A, respectively.

• Registered investment advisors affected by coronavirus from requirements to deliver amended brochures, brochure supplements or summary of material changes to clients where the disclosures are not able to be timely delivered because of circumstances related to coronavirus.

• Private fund advisors affected by coronavirus from Form PF filing requirements.

Advisors must notify the SEC and their clients with the reason why a delay is necessary, and provide an estimated date when they expect to file their respective forms.

These temporary exemptions cover filing or delivery obligations that are due in the period from now through April 30, though the SEC said that time period could be extended—and it may issue other exemptions—if conditions warrant

In addition, the SEC has granted exemptions of the following provisions of the Investment Company Act of 1940:

• Registered management investment companies, business development companies and investment advisors or principal underwriters of such companies impacted by coronavirus from rules requiring in-person votes on certain agreements, plans or arrangements.

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