Sec Chair: US shutdown would block some companies from issuing new shares

The head of the U.S. Securities and Exchange Commission told lawmakers on Wednesday that an impending government shutdown could stop some companies from issuing new shares, as well as halting reviews of initial public offerings.

"Many public companies would be foreclosed from doing additional offerings, others would be allowed," SEC Chair Gary Gensler said during a House of Representatives oversight hearing. "It really depends on the nature of their filings."