Thursday, August 21, 2008

Goodbye, Edgar. Hello, IDEA

SEC Plans Switch From Edgar To Interactive Database

Edgar, the Securities and Exchange Commission’s electronic database of corporate filings, will be replaced by a new system dubbed IDEA, or Interactive Data Electronic Applications, the SEC announced Tuesday.

“This isn’t just a renaming of Edgar,” but an entirely new approach, SEC Chairman Christopher Cox said at a press conference to unveil the new system.

IDEA will supplement Edgar to start and eventually replace it altogether. Once the system is up and running, Cox said it will give investors faster and easier access to key financial information about public companies and mutual funds.

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