§ 78ll. — Requirements for the EDGAR system.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC78ll]
TITLE 15--COMMERCE AND TRADE
CHAPTER 2B--SECURITIES EXCHANGES
Sec. 78ll. Requirements for the EDGAR system
The Commission, by rule or regulation--
(1) shall provide that any information in the EDGAR system that
is required to be disseminated by the contractor--
(A) may be sold or disseminated by the contractor only
pursuant to a uniform schedule of fees prescribed by the
Commission;
(B) may be obtained by a purchaser by direct interconnection
with the EDGAR system;
(C) shall be equally available on equal terms to all
persons; and
(D) may be used, resold, or redisseminated by any person who
has lawfully obtained such information without restriction and
without payment of additional fees or royalties; and
(2) shall require that persons, or classes of persons, required
to make filings with the Commission submit such filings in a form
and manner suitable for entry into the EDGAR system and shall
specify the date that such requirement is effective with respect to
that person or class; except that the Commission may exempt persons
or classes of persons, or filings or classes of filings, from such
rules or regulations in order to prevent hardships or to avoid
imposing unreasonable burdens or as otherwise may be necessary or
appropriate.
(June 6, 1934, ch. 404, title I, Sec. 35A, as added Pub. L. 100-181,
title I, Sec. 102, Dec. 4, 1987, 101 Stat. 1249; amended Pub. L. 105-
353, title II, Sec. 202, Nov. 3, 1998, 112 Stat. 3234.)
Amendments
1998--Subsecs. (a) to (c). Pub. L. 105-353, Sec. 202(1), struck out
subsecs. (a) to (c) which: in subsec. (a) required certifications and
reports as prerequisite to obligation or expenditure of funds for
establishment or operation of EDGAR system, and provided that former
section 78kk(b) amounts were to be exclusive source of funds for systems
procurement and operation; in subsec. (b) required report on status of
EDGAR development, implementation, and progress to certain Congressional
committees at six-month intervals; and in subsec. (c) required
certification to Congressional committees of total costs, cost/benefit
analysis, assurances of compliance, capabilities of system, competence
of personnel, and review of test group filings prior to entering into
contract for EDGAR system.
Subsec. (d). Pub. L. 105-353, Sec. 202(2), struck out ``(d)'' before
``The Commission'' in introductory provisions, in par. (2) substituted
period for ``; and'' at end, and struck out par. (3) which read as
follows: ``shall require all persons who make any filing with the
Commission, in addition to complying with such other rules concerning
the form and manner of filing as the Commission may prescribe, to submit
such filings in written or printed form--
``(A) for a period of at least one year after the effective date
specified for such person or class under paragraph (2); or
``(B) for a shorter period if the Commission determines that the
EDGAR system (i) is reliable, (ii) provides a suitable alternative
to such written and printed filings, and (iii) assures that the
provision of information through the EDGAR system is as effective
and efficient for filers, users, and disseminators as provision of
such information in written or printed form.''
Subsec. (e). Pub. L. 105-353, Sec. 202(1), struck out subsec. (e)
which read as follows: ``For the purposes of carrying out its
responsibilities under subsection (d)(3) of this section, the Commission
shall consult with representatives of persons filing, disseminating, and
using information contained in filings with the Commission.''
