Announcements from Corp Fin re Procedure Changes

By Cydney Posner

A couple of announcements from the Corp Fin staff:

• The first announcement relates to a change in procedure relating to granted applications for confidential treatment. The staff used to call you to let you know if your request for confidential treatment had been granted. Now, when the request for confidential treatment has been granted without comment, the staff will no longer separately notify you. Instead, the order will just be posted on EDGAR. As in the past, the staff will continue to provide oral and written comments on some applications and. when an application is being denied, the applicant will be notified in writing. Recently issued confidential treatments orders can be found here.
• The second announcement relates to glossy annual reports to shareholders. Under the proxy rules, companies are required to mail seven copies of their glossies to the SEC before or at the time they furnish proxy statements to shareholders and to post them on websites (other than the SEC's). Reg S-T allows companies to send them to the SEC by posting them in electronic format on EDGAR or in paper form. However, most companies just mail the copies in. The SEC has been scanning in the paper copies and posting them with the companies' other filings on EDGAR. The staff is discontinuing this practice.

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