In September 2021, the SEC introduced a project entitled “EDGAR Next – Improving Filer Access and Account Management”, wherein the SEC proposed a rule that would implement potential technical changes to the way filers access the EDGAR System to make submissions and how filers manage individuals who make submissions on their behalf. After a first round of feedback from stakeholders within the community, the SEC is now seeking further input in undertaking these technical changes.
The technical modifications to EDGAR filer access and filer account management were designed to yield enhanced overall security of the EDGAR system, improved ability of filers to securely maintain access to their EDGAR accounts, facilitated management of EDGAR credentials, and simplified procedures for accessing EDGAR.
The proposed rule allowing technical changes to EDGAR would result in the following modifications:
those seeking to file on EDGAR on behalf of a filer will be directed to a third-party service provider both to create individual user account credentials and enable multi-factor authentication
each filer would appoint a “filer administrator” comparable to the current filer contact person that receives the filer’s EDGAR access codes. Through a new filer management tool on EDGAR, the filer administrator would be able to manage permissions of the filer’s individual users