Missed Deadlines and Grace Periods There are other consequences imposed by the Securities Exchange Act. Rule 12(b)-25, for example, says that if a company doesn't file a quarterly report within one business day of the due date, it must file an official notification of late filing explaining the reason why. There is a grace period of five calendar days for quarterly reports and 15 days for annual reports. If the company files within the grace period, it may be considered filed in a timely manner
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