New System for Confidential Submission of EGC Registration Statements

By Cydney Posner

The SEC has posted an update regarding confidential submissions by EGCs of IPO registrations statements under the JOBS Act. ht Corp Fin has now implemented a secure e-mail system for confidential submissions that will allow the staff to securely correspond with companies. (Foreign private issuers may also use the system to submit non-public draft registration statements.) The secure e-mail system will be operative beginning today, May 14, 2012, and the new process will replace the procedures described in the April 5, 2012 Corp Fin announcement. All confidential JOBS Act draft registration statements must be submitted in accordance with these instructions for use of the secure email system.  Companies will need to register on the secure e-mail system by creating a secure email account, and the e-mail address provided will be the only one used for correspondence prior to the public filing of the registration statement. All draft submissions must be in text searchable PDF format and should include a transmittal letter identifying the issuer and the type of submission. EGCs should also confirm their status as EGCs in their transmittal letters. The staff will also use this system to send comment letters, and companies must submit their responsive correspondence using this system. The staff will confirm receipt of submissions via secure e-mail.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.