SEC to publish ‘bedbug’ letters on EDGAR

By Mark S. Nelson, J.D. Halloween came early to the SEC as the Division of Corporation Finance announced that it has decided to deal publicly with a creepy-crawly issue of sorts by posting ‘bedbug’ letters on EDGAR. Letters the SEC staff issues to companies with grossly deficient filings have come to be known as “bedbug” letters, a missive no company wants to receive. The SEC will begin publishing letters regarding companies’ seriously deficient filings on EDGAR beginning June 15, according to CorpFin’s announcement. Transparency. CorpFin said seriously deficient filings letters would be made available on EDGAR as part of the agency’s effort to improve the transparency of its filing review process. That process includes making determinations not to review certain filings that fail to meet even minimal standards of completeness. “This will make it clear that the Division believes the filing under consideration is not minimally…

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