The EDGAR Filing Manual – An Introduction
The Electronic Data Gathering, Analysis, and Retrieval (EDGAR) Filing Manual is a document that is produced by the US Securities and Exchange Commission (SEC) and is the first point of general information for publicly traded companies and certain individuals submitting electronic reports to them. All current and prospective filers are encouraged by the US SEC to visit this page to get started with helpful introductory information and step-by-step instructions on how to file on EDGAR.
Made available in two volumes, the EDGAR Filing Manual is frequently updated to introduce new forms, taxonomies, changes, and amendments to existing forms, and any other supplementary information that needs to be added or removed based on new developments in the financial markets and associated legislation.
The first volume provides general information highlighting the requirements to become a filer on EDGAR and maintaining company information on the EDGAR system. The second volume gives the filers more in-depth information on how to file on EDGAR. It is a comprehensive document describing various forms available to filers and associated fees, explaining how to prepare and transmit online submissions as well as finding the status of their filings.
The latest version of the first volume (version 40) can be found here.
The latest version of the second volume (version 61) can be found here.
In the next section, let us briefly explore some changes in the latest version of the EDGAR Filing Manual and how they affect filers.
EDGAR Filing Manual Updates
There are 6 key updates in the latest version of the EDGAR Filing Manual.
New Submission Form Type (497VPSUB)
The US SEC has updated EDGAR to include a new form 497VPSUB that is accessible via the “EDGARLink Online Form Submission” link on the EDGAR filing website. Under the Commission Statement on Insurance Product Fund Substitution Applications, this form is a substitution-related supplement and correspondence for variable contracts. XML submissions may be constructed by filers for submitting this form by browsing the “EDGARLink Online XML Technical Specification” here.
Modernization of Payment Methods for Filing Fees
EDGAR is being updated to enable filers to use more modes of payment like credit and debit cards, as well as Automated Clearing House (ACH) debit payments to pay filing fees. Payments will be initiated and processed by using the Treasury’s pay.gov web interface with the implication that the lockbox for the receipt of cheques will cease to exist by May 31, 2022. Subsequently, cheques received after this date will be returned to the sender by the US SEC. Detailed instructions can be found in Volume 2, Chapter 4.
Confidential Filings for Non-broker-dealers
In accordance with the Commission’s orders, filers who are not broker-dealers can now select a new check box named Filing Pursuant to a Commission-substituted Compliance Order. EDGAR is being updated to enable this thereby allowing such firms to make their entire filing confidential. More information can be found in Volume 2, Chapter 8.
Support for a New Variable Insurance Product Taxonomy
Certain disclosures in forms N-3, N-4, and N-6 will require to be tagged in iXBRL following a recent order by the Commission adopting amendments regarding variable contracts. Consequently, EDGAR is being updated to support a new 2022 Variable Insurance Product (VIP) Taxonomy. More info can be found in Volume 2, Chapter 6.
Validation for Forms MA-A and MA-A/A
In order to prevent filers from submitting a form with the wrong fiscal year, form MA-A (Application for Municipal Advisor Registration, Annual Update) and its amendment MA-A/A will be validated by EDGAR. More information can be found in Volume 2, Chapter 8.
Form X-17-A-5 Part III For New Classes of Registrants
In accordance with a recent Commission rule involving security-based swap dealers, EDGAR is being updated to enable the submission of a revised version of Form X- 17A – 5 Part III to allow two new classes of registrants to file with it namely, security-based swap dealers and major security-based swap participants. More information can be found in Volume 2, Chapter 8. Additional resources for filers can be found on this page. In an effort to keep you abreast of the latest from the US SEC and its EDGAR system, we will continue to bring you updates as and when they are released.