The U.S. government will shut down this weekend absent a last-minute funding deal from Congress, and that could lead to significant disruptions for stock and bond markets, according to the nation’s top securities regulator.

Securities and Exchange Commission Chairman Gary Gensler said during a hearing before the House Financial Services Committee on Wednesday that a government shutdown would force his agency to furlough roughly 93% of its staff, leaving him with a “skeletal” crew that would not be able to perform basic market oversight.

“The public won’t have somebody, really at full force, overseeing the market or companies that want to go public,” Gensler said Wednesday, adding that a shutdown could stop many public companies from issuing new debt or equity to fund their operations.

The SEC would still be able to accept tips and complaints from the public, but won’t have the staff available to follow up on these issues, unless they relate to an emergency situation that presents and imminent and significant threat to the protection of property, Gensler said.