On January 30, 2009, the SEC issued Final Rule No. 33-9002, Interactive Data to Improve Financial Reporting, which will require public companies to submit Exhibit 101 containing their financial statements and any applicable financial statement schedules in interactive data format. Interactive data exhibits will be required at the same time as the rest of the related report or Securities Act registration statement, except that the initial interactive data exhibit of a filer will be required within 30 days after the earlier of the due date or filing date of the related report or registration statement, as applicable. As a result of these requirements, Form 10-K and Form 10-Q have been revised to include a paragraph on the cover page as follows:
Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this Chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
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On April 30, 2009, the SEC issued a Compliance and Disclosure Interpretation, which concludes that if a company is not yet required to submit interactive data files with its Exchange Act reports, it should not start checking the cover page box relating to interactive data file compliance until it is required to submit those files. For example, if a company is first required to include an interactive data file with its second quarter Form 10-Q and, as permitted by the grace period rules, includes such file in a Form 10-Q amendment 30 days after the date the report is due and filed, the company should not check the interactive data file box on the cover page of its initial Form 10-Q. Rather, it should check the box once the first interactive data file is submitted — in this case, with the Form 10-Q amendment. Companies that have been voluntarily submitting interactive data files should not check the box until they are required to submit the files.
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