Behind the Scenes with EDGAR: It Works

General Motors Acceptance Corp. (GMAC) became involved in the Security & Exchange Commission's (SEC) Electronic Data Gathering, Analysis, and Retrieval (EDGAR) project in an attempt to become more responsive to the marketplace. GMAC viewed the project as an opportunity to accelerate the filing process and alleviate many of the problems of paper filings. At the same time, the company would be providing the marketplace with better, more current financial information on which to base its investment decisions. Finally, GMAC wanted to make sure its point of view on electronic filings was communicated to the SEC. GMAC's experience with EDGAR has been positive. For example, EDGAR has sped up the filing process and allows GMAC to communicate electronically with the SEC, underwriters, underwriter counsel, the firm's own counsel, and printers. EDGAR also will streamline the dissemination of data and alleviates pressure on GMAC's staff. There have been few problems with the EDGAR system.