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Financial Services Law Insights and Observations

SEC publishes final rule modernizing electronic filings

Securities Electronic Filing EDGAR SEC

Securities

On June 24, the SEC announced a final rule to require certain documents filed by investment advisers, institutional investment managers, and certain other entities be submitted electronically—a change that is “intended to promote efficiency, transparency, and operational resiliency.” Among other things, the final rule requires the electronic filing or submission of: (i) applications for orders under the Advisers Act on EDGAR; (ii) confidential treatment requests for Form 13F filings on EDGAR; and (iii) Form ADV-NR (through the IARD system).

The SEC also released a Fact Sheet further explaining the final rule and what is required. According to a statement released by SEC Chair Gary Gensler, “these amendments benefit filers, investors, and the SEC” as “it is important for filers to have easy, online methods to submit information to the Commission, and where appropriate for investors to have easy, online access as well.”