On September 26, 2012, the SEC's Division of Corporation Finance announced that important EDGAR modifications will be available on October 1, 2012. These modifications will allow certain emerging growth companies (EGCs) and foreign private issuers to submit draft registration statements for nonpublic and confidential review (see Legal Updates, SEC Division of Corporation Finance Issues Guidance on Confidential Registration Statement Submission under JOBS Act and SEC Updates Policy on Nonpublic Submissions by Foreign Private Issuers). Starting October 1, these issuers can choose to submit their draft registration statements using either the current secure e-mail system or using the new EDGAR system. However, in a future announcement the Division will publish a deadline for mandatory transition to the new EDGAR system.

Under the new system, issuers will no longer need to file copies of previously submitted draft registration statements as exhibits to their registration statements, but can instead use EDGARLink to publicly file them as individual documents on EDGAR. Issuers must obtain an EDGAR access code before making a submission or filing on the new EDGAR system.

The SEC posted instructions on its website on how to prepare electronic submissions of draft registration statements, amendments and correspondence relating to registration statements. A letter with guidance on how to transition to the new EDGAR system will be provided to any issuer that confidentially submitted a draft registration statement since April 5, 2012 but that has not yet filed a registration statement on EDGAR.

To learn more about filing documents with the SEC, see Practice Note, Filing Documents with the SEC.