Marianne Lake, JPMorgan’s chief financial officer, has warned that the US government shutdown could hit investment banking fees, bringing Wall Street’s mergers and acquisitions bonanza to a crunching halt.

The partial closure of the Securities and Exchange Commission, the US market regulator, over the last three weeks has caused a drought in initial public offerings in the US during January. Some companies are putting their plans to list on ice, according to an earlier report by the Wall Street Journal.