What is EDGAR?

 

EDGAR stands for Electronic Data-Gathering, Analysis, and Retrieval, the system, performs automated collection, validation, indexing, acceptance, and forwarding of submissions by companies and others who are required by law to file forms with the U.S. Securities and Exchange Commission. Its primary purpose is to increase the efficiency and fairness of the securities market for the benefit of investors, corporations, and the economy by accelerating the receipt, acceptance, dissemination, and analysis of time-sensitive corporate information filed with the agency.

 

What is the average page per hour for EDGAR production?

An EDGAR operator is able to process an average of 20 pages per hour, however this also depends on the complexity of the document.

 

What is the average turnaround time for confirmation of acceptance?

Normally the document turnaround time is very quick. It usually takes 1-4 hours depending on the size of the document and the time it was filed. If your document was filed just before the cut-off time, which is at 5:30pm EST confirmation might not be received until the following day.

 

What is the latest time a document can be sent in to meet the SEC 5:30 deadline?

We encourage all clients to send their documents in as soon as possible. Depending on the document, and the number of changes made after the first draft, documents can be received as late as 3:00 p.m. for a 5:30 deadline.

 

Which is the preferred document to be sent for EDGARizing?

To maximize the efficiency of EDGAR production, a document should be sent in WORD format. PDF versions are acceptable, but can complicate the turn around time of the first draft.

 

What is the difference between a REGISTRANT and an ISSUER?

A REGISTRANT is the issuer of securities for which a registration statement, report, proxy, or information statement is filed.An ISSUER is a legal entity that develops, registers and sells securities for the purpose of financing its operations. Issuers may be domestic or foreign governments, corporations or investment trusts. Issuers are legally responsible for the obligations of the issue and for reporting financial conditions, material developments and any other operational activities as required by the regulations of their jurisdictions. The most common types of securities issued are common and preferred stocks, bonds, notes, debentures, bills and derivatives.

 

How long does it take to process and receive codes from the SEC?

After the electronic submission and notarized Authentication Document has been received by the SEC it will take 24 – 48 hours (as required by the SEC) to review and process the request. This includes applications for NEW and EXISTING (Passphrase Update) codes.

 

Can clients make changes to their documents over the phone?

Clients are encouraged to email all changes to the managers to ensure all amendments are done accurately, this also enables us to keep better track of changes to a document, especially during the filing deadlines.