Explore the EDGAR Next Initiative: Navigating SEC Rules and Requirements
In 2021, the US Securities and Exchange Commission (SEC) proposed one of the most significant changes to the SEC filing process: a series of technical and process enhancements to the EDGAR system, collectively known as EDGAR Next.
Toppan Merrill has been following the changes closely, offering their comments in response to proposals. To help the filing community understand the changes, they have published a guide on what to expect.
EDGAR Next, once implemented, anticipates impacting over 200,000 active filers. The proposed rule mandates secure access through individual login credentials and multi-factor authentication to improve security. Filers will be required to assign Account Administrators, maintain their accounts on the EDGAR system dashboard, and delegate filing authority.
During the comment period, the SEC introduced the EDGAR Next Beta testing environment, providing filers and agents a simulated experience of the proposed changes. This testing phase, open until 15 March 2024, allows stakeholders to assess the adjustments and contribute valuable feedback.
While the timeline for adopting the final rule has not yet been announced, a potential adoption in early 2024 is possible.
For insights on preparing for EDGAR Next, see Toppan Merrill’s blog here and podcast here.
