On June 22, 2021, the SEC announced that the anticipated September 2021 update to the EDGAR system will introduce a pilot phase for filing Form 24F-2. The SEC recently adopted the requirement that filings on Form 24F-2 be submitted in a structured format, as stated in the
Securities Offering Reform for Closed-End Investment Companies release.
The pilot phase may be beneficial to filing agents, software companies, and issuers when addressing potential issues that may arise with new rules before compliance is enforced. The pilot phase will feature the following updates and conditions:
- During the pilot phase, from September 20, 2021 to January 31, 2022, filers may only submit online and filer-constructed versions of forms 24F-2NT and 24F-2NT/A as test filings. As normal, filers are urged to create and submit made-up data.
- EDGAR will be updated with the ability to convert Form 24F-2 (variants 24F-2NT and 24F-2NT/A) to an online form.
- Filers may use a new online version when preparing Form 24F-2, which will be available on the EDGAR Filing Website or constructed by filers in compliance with new technical specifications. These specifications will be available with the next major update to the EDGAR system.
- Form types 24F-2NT and 24F-2NT/A, created in a structured format, will be accepted as LIVE and TEST in online submissions beginning February 1, 2022.
- Filers will not be able to submit 24F-2NT and 24F-2NT/A form types using the EDGARLink Online interface or as EDGARLink Online filer-constructed submissions beginning February 1, 2022.
For more information on the pilot phase or the new requirements for Form 24F-2, see the final rule on sec.gov. As always, the GoFiler family of products will be updated to support these changes. Stay tuned to the blog here at novaworkssoftware.com for more information as the pilot phase approaches.
Sources:
Coming Soon for Investment Company Filers (sec.gov)
