Business Wire to Build Upon Success of EDGARit by Sponsoring European IR Seminars to Educate Foreign Issuers On SEC Filing Requirements

Business Wire,  Sept 17, 2002  

Tags: Business Wire, SEC filing

• E-mail
• Print
• Link

Business Editors

NOTE TO MEDIA: Multimedia assets available

NEW YORK--(BUSINESS WIRE)--Sept. 17, 2002

Buoyed by the success of EDGARit, its SEC electronic filing service that has witnessed a doubling of its volume in each of the past three earnings periods, Business Wire is sponsoring investor relations conferences in Frankfurt and London next month to help foreign issuers understand how they can comply with the SEC's new mandated filing requirements, which go into effect November 4.

The SEC amended Regulation S-T, the rules governing electronic filing guidelines, last May. Previously, the regulation exempted foreign issuers from mandated filing requirements for most Securities Act and Exchange Act documents. Starting in November, foreign-based companies whose ADRs are traded on U.S. equities markets will be subject to electronic filing requirements for a broad range of documents, including most 6-Ks.

To facilitate the transition, Business Wire has teamed with The Bank of New York and the law firm Morgan, Lewis & Bockius LLP to sponsor a series of educational forums in major European financial centers.

On October 17 in Frankfurt, the Business Wire Conference will feature a panel of experts that include speakers from Morgan, Lewis & Bockius LLP, The Bank of New York, Deutsche Bank and The Wall Street Journal. A similar panel discussion is being held October 18 in London.

"Business Wire is prepared to play a key role in easing the transition for foreign issuers that will need to comply with SEC filing standards in the coming weeks," said Cathy Baron Tamraz, chief operating officer. "Business Wire is the only commercial newswire with a proven track record of performance in EDGAR filings, offering substantial cost-savings and efficiencies when compared to other service providers."

EDGARit is part of Business Wire's suite of disclosure services, which include a real-time media and investor relations newswire, and webcasting via CCBN, the acknowledged industry leader.

EDGARit offers state-of-the-art conversion, formatting and filing capabilities. U.S.-based companies primarily use the service to file 10-Ks, 10-Qs, and 8-Ks, although other options also are available. Business Wire has sent hundreds of transmissions on behalf of the nation's leading publicly traded companies since the service launched late last year.

With its strong corporate focus on innovative investor relations services, Business Wire provides listed companies with a seamless, one-stop disclosure solution. Documents can be filed via Business Wire's proprietary and secure order management system, Business Wire Connect. A dedicated staff of experienced editors will then convert the original documents from virtually any format, return proofs for final approval, and then electronically transmit the approved document, ensuring SEC compliance.

"Our total disclosure solution enables clients to satisfy disclosure via the two platforms recognized and accepted by the U.S. Securities and Exchange Commission: the news release, and EDGAR filings," Tamraz added. "For companies seeking to augment their distribution via supplemental channels, Business Wire provides turnkey access to a full range of industry-leading webcasting and web-posting/archiving services."

ABOUT BUSINESS WIRE:

Business Wire was founded in 1961 by its president, Lorry I. Lokey, veteran journalist and public relations executive.

Business Wire's multi-channel delivery network provides real-time, simultaneous access to key audiences--the news media, trade publications, institutional and individual investors, business-to-business decision-makers, and consumers.

The company electronically disseminates some 1,000 full-text news releases daily to the news media, the Internet, online services and databases, and the global investment community. Business Wire has network access to more than 60 international and national newswires, financial information providers, and Web-based services through North America, Europe, Asia, Latin America, the Middle East and Africa.

Business Wire has 26 U.S. offices, plus Frankfurt, London and Brussels offices, and reciprocal offices worldwide.

Note: Logos are available at URLs:

http://www.businesswire.com/cgi-bin/photo.cgi?pw.091702/bb4

http://www.businesswire.com/cgi-bin/photo.cgi?pw.091702/bb4a

COPYRIGHT 2002 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning