By: Larry Oakley
The SEC’s latest “Final Rule” was described 8/29/2012 and became effective 9/6/2012. It’s titled “Adoption of Updated EDGAR Filer Manual.”
EDGAR stands for “Electronic Data Gathering, Analysis, & Retrieval System,” and the revised rule covers the Filer Manual, Volumes I & II. The Filer Manual contains all the technical specifications for filers to submit filings using the EDGAR system. Filers must comply with the applicable provisions of the Filer Manual in order to assure the timely acceptance and processing of filings made in electronic format. Filers may consult the Filer Manual in conjunction with SEC rules governing mandated electronic filing when preparing documents for electronic submission.
You can get a paper copy of the updated Filer Manual at: Public Reference Room, U.S. SEC, 100 F Street NE., Room 1543, Washington DC 20549, or you can get an electronic format copy on the Commission’s Web site at http://www.sec.gov/info/edgar.shtml.
Another announcement the SEC sent out on 8/29/2012 is titled “Eliminating the Prohibition Against General Solicitation Rule 506 and Rule 144A Offerings, File No.: S7-07-12. This rule is in the “Proposed” category, and the public’s comments are due on or before 10/5/2012.
When the comments are received, reviewed, and the decision is made by the SEC regarding which comments if any should be added to the wording of the rule, it will become a “Final Rule.” When that part of the process is complete and the Final Rule is announced with a date of when it will be made effective, we will review it and alert you in a detailed article, because this pending rule is of greater importance to our readers than the “Final Rule” briefly described above.