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The SEC solicits offers


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SEC to Privatize EDGAR System

T he Securities and Exchange Commission released a request for proposal soliciting offers for the mod- ernization and privatization of its electronic filing system. The electronic data gathering, analysis and retrieval (EDGAR) system, developed in 1984, is used as an electronic receipt, acceptance and processing system for corporate filings.

The request for proposal said that current statutory, regulatory, economic and technological bases of the EDGAR system needed reevaluation. The SEC is required under the National Securities Markets Improvement Act of 1996 (HR 3005) to examine alternatives that would further privatize EDGAR.

The SEC will evaluate all competitive offers and consult with the Office of Management and Budget and Congress before it awards a contract. Bids are due no later than 3:00 p.m. EST, January 24. For a copy of the request for proposal, go to the SEC World Wide Web site: http://www.sec.gov .

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