SEC Adopts Rules To Require Electronic Filing for Investment Advisers and Institutional Investment Managers

June 23, 2022

The Securities and Exchange Commission (SEC) recently adopted amendments to require certain documents filed by investment advisers, institutional investment managers and certain other entities to be filed or submitted electronically. The amendments also make technical amendments to modernize Form 13F and enhance the information provided.

The SEC stated that the amendments are intended to promote efficiency, transparency and operational resiliency by modernizing how information is filed or submitted and disclosed to the public. Electronic filings will be more readily accessible to the public and available on websites in easily searchable formats.

Electronic filing capabilities have helped the SEC address logistical and operational issues raised by the spread of COVID-19. The SEC said that expanding electronic submission will allow the agency and filers to navigate more effectively any future disruptive events that make the paper submission process unnecessarily burdensome, impractical or unavailable.

With the exception of the amendments to Form 13F, the new rules and form amendments will be effective 60 days after publication in the Federal Register. The amendments to Form 13F will be effective Jan. 3, 2023. The SEC is providing a six-month transition period to provide filers with adequate time to prepare to submit these documents electronically.