The US Securities and Exchange Commission will remain open and operational, at least after a fashion, in the event that the federal government undergoes a lapse in appropriations on 1 October.

Government shutdown" season is approaching the United States yet again, with Republicans in Congress threatening to block the authorisation of taxes. Although most commentators think that this will not happen in view John Boehner's announcement that he will resign as the speaker of the House of Representatives, the regulator has a plan to deal with the problem should it arise.

The Anti-Deficiency Act (31 USC §1341, et seq.) restricts the conduct of business by agencies during a lapse of appropriations, generally prohibiting them from making expenditures in excess of appropriations and accepting voluntary services for the United States or employing others to perform personal services in excess of those authorised by law. Certain functions, however, may continue, namely:

• those that have a continuing source of funding;
   
• those that are expressly authorized by Congress to continue even without funding;
   
• those that are necessary to prevent an imminent and significant threat to the safety of human life or the protection of property;
   
• those that are necessary for the discharge of the President’s constitutional duties; and
   
• activities necessary for a short period in order to ensure an orderly shutdown of operations.

When a shutdown of SEC operations is imminent, the agency will establish a Contingency Planning Committee to determine which employees should be excepted from furlough (temporary leave of absence). All paid leave will be cancelled. Once the Government shuts down, the SEC will have only an extremely limited number of staff members available to respond to emergency situations involving the safety of human life etc. The plan, in which the SEC invents a frightful new word - "decisional" – is to be found at http://www.sec.gov/about/sec-plan-of-operations-during-lapse-in-appropriations-2015.pdf

From 1 to 16 October 2013, the United States federal government curtailed most routine operations because neither legislation appropriating funds for the fiscal year of 2014 nor a continuing resolution for the temporary authorisation of appropriations for fiscal year 2014 was enacted in time. Vast numbers of federal employees kept working without knowing when they were going to be paid.