SEC Amends Authority To Administer EDGAR

The SEC adopted amendments to Regulation S-T ("General Rules and Regulations for Electronic Filings"), that specify administrative actions the agency can take to "promote the reliability and integrity of EDGAR [Electronic Data Gathering, Analysis, and Retrieval] submissions."

New Rule 232.15 ("Administration of EDGAR") gives the SEC the authority to, among other things:

• redact sensitive personally identifiable information;
• prevent a submission to EDGAR that poses a cybersecurity threat;
• correct staff errors to EDGAR; and
• accept or disseminate a submission identified as potentially manipulative if the SEC's concerns have been "satisfactorily addressed."

Additionally, the SEC adopted new Rule 30-19, which authorizes the Director of the EDGAR Business Office to adjust the filing date of an electronic filing and set the terms of "continuing hardship" exemptions from the electronic submission requirements.