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SEC revises rules to permit use of electronic signatures for Edgar filings

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4 comments

  • Mike

    Hello and welcome to the Community, Leisanne!

    Great question. I assume you are referring to this press release

    According to the above release, the SEC announced electronic signatures and said the process for them would be described within the release of the Edgar Filing Manual (EFM) version 55. However, the most recent release went from version 54 to 56 and skipped over version 55 entirely. 😿

    While we haven’t confirmed yet, we suspect that the SEC was not quite ready for electronic signatures as yet and are deferring it to a future EDGAR release. Your suggestion of Certifications is a good one, though, and once we know more about the proposed process outlined by the SEC, you can rest assured Workiva will work to make this as seamless and integrated as possible.

    We’ll be keeping our eyes peeled for updates and will let you know about any changes. In the meantime, feel free to give us a holler if you have any questions.

    Thanks, and happy early Thanksgiving! 🦃 🥧 🤗

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  • Leisanne Smeadala

    Thank you for such a quick response, we appreciate it!! Happy Thanksgiving. 

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  • Mike

    You betcha, Leisanne! Happy to help :)

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  • Mike

    Hello Leisanne et al,

    Wanted to give a quick update here. Recently, the SEC Institute Blog posted a sample electronic authorization letter.  Within the letter, they mention DocuSign® specifically, but Wdesk Certifications meet all of the same requirements.

    The platform used for electronic signatures must:    require the signatory to present a physical, logical, or digital credential that authenticates the signatory's individual identity;
    reasonably provide for non-repudiation of the signature;
    provide that the signature be attached, affixed, or otherwise logically associated with the signature page or document being signed; and
    includes a timestamp to record the date and time of the signature.

    From that stance, Certification + our audit logs would satisfy all the above. We'd always encourage consulting with your own legal team on their interpretations too.

    Thanks as always for your patience and time, and let us know what questions you have. Take care, pleasant signings and a happy holiday season!

     
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