The Securities and Exchange Commission has issued a preliminary request for proposal (RFP) to software vendors for management of the Electronic Data Gathering Analysis and Retrieval (EDGAR) system, looking to update it by making it interactive.
"EDGAR was once state-of-the-art. Moving from a paper-based world into electronic filing was a significant step in the 1980's," said SEC Chairman Christopher Cox. "But investors today need access to information in real time, and that information cannot be static. It has to be interactive. During the next 12 months, the SEC will move beyond the EDGAR concept of electronic filing of paper based forms, to an interactive data concept in which investors can have instant access to data that's ready to use in myriad software applications on their desktops."