The secrets of Edgar filing for non-US issuers

Author: | Published: 1 Dec 2001

According to recent SEC proposals, non-US issuers would soon have to meet the same mandatory electronic filing requirements as their US counterparts. To date, "foreign governments" and "foreign private issuers" have been exempt from Regulation S-T, which sets out the electronic filing requirements, based on the SEC's earlier belief that electronic filing through the Edgar system would be considerably more burdensome for non-US issuers than domestic issuers.

Regulation S-T was phased in from April 23 1993 and US companies have been filing electronically ever since. Under the SEC's proposals, non-US issuers would become mandatory electronic filers starting four months from the adoption of the proposed amendments, which are open for comment until December 3 2001.

The proposals had been expected for some time, and were specifically referred to in a May 2001 letter from the SEC's acting chairman at the time, Laura Unger, to Congressman Frank Wolf (R-Va), which stated that the staff...