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SEC requires insider holdings reports online. (Highlights).


To disseminate dis·sem·i·nate  
v. dis·sem·i·nat·ed, dis·sem·i·nat·ing, dis·sem·i·nates

v.tr.
1. To scatter widely, as in sowing seed.

2.
 information on corporate insiders' equity transactions more quickly and widely than ever before, the commission issued final rules--and updated its EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king.  filing manual--requiring officers, directors and anyone holding more than 10% of a company's outstanding stock to disclose transactions involving such holdings via a new Web-based system (https://www.onlineforms.edgarfiling.sec.gov See .gov and GovNet.

(networking) gov - The top-level domain for US government bodies.
) the SEC established for that purpose.

The deadlines for filing the reports--which include SEC Forms 3, Initial Statement of Beneficial Ownership of Securities; 4, Statement of Changes in Beneficial Ownership of Securities; and 5, Annual Statement of Beneficial Ownership of Securities--vary according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 criteria specified in SEC rules related to the Securities and Exchange Act of 1934 (www.sec.gov/divisions/corpfin/forms/16rules.htm). Further, the new provisions require a corporation that maintains a Web site to post the reports there by the end of the business day after it files them on the EDGAR system.

The rules (www.sec.gov/rules/final/33-88224.htm) implement provisions of the Sarbanes-Oxley Act See SOX.  of 2002. When they take effect June 30, the SEC will consider forms companies submit by 10 p.m. (ET) as filed on that same business day. In view of these extended filing hours, the commission no longer will allow temporary hardship exemptions for reports filed late.
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Publication:Journal of Accountancy
Date:Jun 1, 2003
Words:214
Previous Article:FASB revises derivatives guidance. (Highlights).
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