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System Now Accepts Additional Corporate Finance Filings

WASHINGTON, DC, May 27, 2020 –The North American Securities Administrators Association (NASAA) announced today that its Electronic Filing Depository (EFD) System has been expanded to accept additional corporation finance materials.

“We are pleased to continue to modernize and streamline the filing process and offer additional efficiencies for issuers,” said Christopher W. Gerold, NASAA President and Chief of the New Jersey Bureau of Securities.

The system’s expanded functionality allows the electronic submission of various corporation finance filings and associated state fees. The new functionality is particularly important as regulators and industry rely more heavily on remote working arrangements following the spread of COVID-19. Many of these filings were previously paper based.

Through its EFD Steering Committee, led by Washington Securities Director William Beatty, NASAA built and launched the new functionality, referred to as “Universal Filing Type,” to submit electronic filings with states for a variety of corporation finance offerings not previously available through EFD. These offerings include, among others, registrations by coordination and qualification, Regulation A (Tier 1 and Tier 2), crowdfunding, (federal and state) and franchise filings. The expanded functionality also facilitates the filing of materials such as issuer-agent registrations.

Developed by NASAA, the EFD System was launched in 2014 and was initially used for the electronic filing of Form D for Regulation D, Rule 506 offerings with state securities regulators. The system was expanded last year to accommodate the electronic filing of Form NF-UIT notice filings for unit investment trusts (UITs) with state securities regulators. Future system enhancements are being considered to accommodate the electronic filing of Form NF-Mutual Funds.

EFD is available at: www.efdnasaa.org.

For More Information:

Bob Webster | Director of Communications
202-737-0900

Noelle Lane | Communications & Outreach Specialist
202-737-0900