Effective Date Set for SEC Rule on Electronic Filing Requirements

SEC amendments to require certain financial documents to be filed electronically through the EDGAR and Investment Adviser Registration Depository systems will become effective on August 29, 2022. Amendments to Form 13F ("Report of institutional investment managers") will become effective on January 3, 2023. The final rule was published in the Federal Register.

As previously covered, the amended rules require electronic filing of applications for orders under the Advisers Act and confidential treatment requests for Form 13F filings on the EDGAR system and Form ADV-NR through the IARD system. The amended rules (i) require managers to provide their Central Registration Depository number and SEC file number (if any) and (ii) add the option to include a Financial Instrument Global Identifier in the filing for any security reported on Form 13F.

The SEC stated that the amendments are intended to modernize information submissions and promote more efficient analysis of filings, as well as modernize its records management process and improve its ability to track filings. The SEC added that requiring electronic filing submissions will increase the accessibility of financial documents to the public.