The SEC announced last week that it is implementing security-enhancing changes to its three EDGAR filing websites (including the “Ownership Forms” website for filing Forms 3, 4 and 5) which may require changes to third-party filing software. In a nutshell, the SEC is changing the way EDGAR communicates with filing software. Here’s an excerpt:
Specifically, EDGAR will create a unique parameter that some third-party software products may need to include with every request that enters/updates information. EDGAR will verify the parameter and terminate the user session if the parameter is missing or mismatched.
The SEC plans to implement the new measures on Monday, November 22. While most current software should be compatible with the new update, you should check with your filing agent if you have any questions. All filers, regardless of the software they use, should also be prepared for potential submission delays or rejections—there are usually glitches that need to be ironed out any time the SEC makes a software change.
For those who use the Romeo & Dye Filer, the desktop version of the Filer may not be compatible with the new system, which means filings can be created but then will need to be manually filed through EDGAR on the SEC website. Those still using the desktop version should consider migrating to the online version as soon as possible to avoid any last-minute transition difficulties. The web-based filing platform is up to date. CCRcorp’s member services team can help with migration if you email them at info@ccrcorp.com.
-Alan Dye, Section16.net November 18, 2021
