WASHINGTON (CN) – The Securities and Exchange Commission may have less confetti to throw around on New Years, the last day it will accept paper applications for orders under the Investment Company Act.
Use of SEC’s Electronic Data Gathering, Analysis and Retrieval (EDGAR) System has been optional, but the SEC has determined that the technology used for electronic submissions is widespread enough to mandate its use without imposing a significant hardship on filers.
Exemptions may be allowed where a computer glitch has made an electronic filing impossible by the filing deadline, although all filers are to update their systems so electronic filing is possible.
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