Bowne & Co. Launches Web-Based BowneFile16
Thursday, January 16, 2003
NEW YORK, Jan. 15 - Bowne & Co., Inc., a global leader in delivering high-value document management solutions, today announced the launch of its Web-based, self-filing service, BowneFile16(TM) (http://www.bownefile16.com ), that sets a new standard for corporate insiders, directors, 10% beneficial owners and their representatives to transmit compliance documents directly and more rapidly to the U.S. Securities and Exchange Commission The new product is designed to help individual and corporate filers ease the pain of complying with the more stringent SEC filing requirements mandated by the Sarbanes-Oxley Act of 2002, effective in late August of 2002. The law, which affects approximately 60,000 filers and more than 250,000 filings, requires all changes in beneficial corporate ownership to be reported to the SEC within two days instead of the previous 10 days following the month of the transaction. Today's announcement is consistent with both Sarbanes-Oxley and the SEC's December 18 proposed rule release to require that the beneficial ownership reports be subject to mandatory electronic filing before July 30 of this year. Today, approximately three-quarters of such filings are done on paper. The SEC has asked for comments on the proposal by the beginning of next month.