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SEC launches PPP loan sweep of public companies

Though the enforcement probe is focused on public firms, advisors could be questioned on PPP loans in their next exam, a lawyer says.

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The SEC headquarters in Washington. (Photo: ALM) The SEC headquarters in Washington. (Photo: ALM)

The Securities and Exchange Commission is conducting a sweep of public companies that have received funds from loans under the Paycheck Protection Program.

“I believe there’s a sweep from enforcement seeking information from public companies about their receipt of PPP funds,” Ivan Knauer, partner at Snell & Wilmer LLP in Washington, told BenefitsPRO’s sister publication ThinkAdvisor Thursday.

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Melanie Waddell

Melanie Waddell

Melanie is Washington Bureau Chief, Investment Advisory Group. She also covers regulatory and compliance issues. Her column, The Playing Field, appears in Investment Advisor and on ThinkAdvisor.com, and she also writes the briefing and produces the podcast, Human Capital. Earlier in her career, Melanie covered financial issues at American Banker/Thomson Media publications in Washington and New York. She also wrote freelance articles for Institutional Investor in New York. You can reach her at [email protected]. On twitter: @Think_MelanieW

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