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REP.
ED
MARKEY
United
States
Congress
FOR
IMMEDIATERELEASE:Wednesday,August16,1995
Seventh
District
Of
Massachusetts
CONTACT:JeffDuncan(202)225-2836MARKEYAPPLAUDS
SEC
INITIATIVE
TO
PUTCORPORATE
FILINGS
ON
INTERNET
WASHINGTON-ReptesentativeEdwardJ.Markey
(D-MA),
RankingDemncratontheHouseTelecommunications
and
FinanceSubcommittee,todayapplaudedyesterday'sannouocementbySECChainnanArthurLevittthattheCommissionhaddecidedtoassutethatcorporatefilingscontinuetobemadeavailablethrough
the
Internetcomputernetwork.Curtently,apilotprojectfundedbyNSFtakescorporatemingssubmittedto
the
SEC'sElectronicDataGathering
and
Retrieval(EDGAR)system
and
makesthemavailable
on
theInternet,whetetheycanbeaccessedelectronicallybythepublic.Fundingforthisproject,whichwasinitiatedatRep.Markey'surging,willexpiteinOctober."Yesterday'sannouncementbyChainnanLevittwillassUtethatEDGARtemainson
the
Internet,"saidRep.Markey,whoexplainedthat,"Thisproject
has
proventhatthete
is
strongpublicintetestinthemotherlode
of
infonnationavailablethroughEDGAR,includingregistrationstatements,andannualandperiodicreportsfromvirtuallyeverymajorU.S.
corporation.
"
Rep.Markeysaid,"Sofar,theEDGARpilotprojecthashelpedtodemonstratenewandmoteefficientways
of
makinglargegovemmentdatabasesavailabletothepublicovertheinfonnationsuperhighway."Ithasbenefittedinvestorsseekingaccesstocurrentinformationaboutcompanies.economistsandotherresearchersinterestedincorporatetrends
and
developments.journalistscoveringthebusinessbeat,
and
otherindividuals
or
publicinterestgroupsinterested
in
understanding
what
is
goingon
in
corporateAmerica."It
is
important
toassure
that
thisservice
is
notshutdown,forcinginvestorstopayexpensivefeestoprivateinformationvendorsinordertoobtainbasicaccesstorawEDGARfilings."Sincetheearly1980's,theSEChasbeendevelopingtheEDGARprogramtoautomate
the
filing,acceptance,dissemination,andanalysis
of
themorethan10millionpages
of
disclosureinfonnationannuallysubmittedbypubliccompanies.(MORE)
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