By Cydney Posner
Today, the SEC announced that, on Monday, October 1, 2012, EGCs may choose to submit their draft registration statements for confidential review either using the current secure email system or via a new EDGAR system. Once the EDGAR Filer Manual for EDGAR Release 12.2 becomes effective (which will be announced), filing on EDGAR will become mandatory.
Corp Fin will send companies that have already submitted draft registration statements a letter with guidance on how to transition to the EDGAR system. Once a company chooses to submit draft registration statements or amendments on EDGAR, it must continue to use that system. Here is a link to the SEC's brief set of instructions on how to prepare an electronic submission of a draft registration statement.
Companies that file on EDGAR will no longer need to file copies of previously submitted draft registration statements as exhibits to their registration statements and, instead, will be able to use EDGARLink to direct the EDGAR system to publicly file them as individual documents on EDGAR. (Remember that submission of draft registration statements on EDGAR requires EDGAR access codes.)