On March 13 2017, the SEC changed the method for updating EDGAR passphrases on its Filer Management website by implementing a dual stage authentication process for SEC filers who request their passphrase to be reset. This is a security update to the original requirements, which was implemented in 2004, as a safety measure to protect account holders password and identity information.
As this is an important update that requires account holder participation, there are a couple things you should know:
1. With the new two-step authentication process, when a request for a passphrase change is made to the EDGAR system the email contact on file will receive an electronic security token. Because this process requires updated and accurate information, if a filer’s contact information is incorrect or no longer relevant then delays may occur. If a filer’s email record is not current or valid, they will have to authorize a code reset. This must be submitted on company letterhead, or manually signed if a Power of Attorney is submitted.
2. If filers have outdated contact information, then a manual review will be required every time an applicant requests a passphrase change. A manual review is expected to take up to and beyond 48 hours, and may affect file submission quality and timeliness.
For more information on the EDGAR passphrase update, visit the EDGAR Filer Manual.
As a full-service professional filing agent, Colonial Filings can assist in updating your EDGAR codes. We offer a host of EDGAR filing and financial printing services. To learn more please contact us by clicking at the top right of the page.