U.S. Securities and Exchange Commission Website Content and Website Posting Priorities

The mission of the Securities and Exchange Commission (SEC or Commission) is to administer and enforce the federal securities laws in order to protect investors and to maintain fair, honest and efficient markets. To accomplish this mission, the Commission has long been committed to disseminating information to the investing public in a timely and efficient manner. Beginning in the 1980s, many years prior to the creation of the Internet, the Commission developed its EDGAR (Electronic Data Gathering, Analysis and Retrieval) system, which, among other things, made corporate and financial information available to investors, the financial community and others in a matter of minutes following the filing of such information. Since that time and with the creation of the SEC website, EDGAR is now instantaneously available to the public and the Commission has continued to expand its practice of disseminating useful and timely information to the public.

Because of the high volume of information that we post, we prioritize posting based upon the time-sensitive nature of the information. Specifically, the following criteria are used in determining how quickly information is posted to the SEC website: urgent and time sensitive information is Priority 1 and typically is posted within minutes of receipt. Time sensitive information is Priority 2 and typically is posted within an hour of receipt. Information frequently requested by the public is Priority 3 and typically is posted the same day it is received. Other information that may be useful is Priority 4 and typically is posted within 24 hours of receipt. To ensure that the newly posted material is not overlooked by users of the site, new information is highlighted in a "What's New" section on the first page of the site that is updated daily.

We continue to evaluate the type of information that is provided on our website and the speed with which it is posted and will continue to add additional categories of information as appropriate. To that end, in the past two years, we have posted new categories of information such as staff no-action letters and rulemaking proposals from self regulatory agencies. We also continue to improve the layout and design of the website to make posted information easier to find. To enhance the ability to search for information on the site, in the near term, we anticipate improving the site's search engine.

We have set forth categories of information representative of the information contained on our website and the publication priorities assigned to these categories. For more detailed information regarding the content of the SEC website, you may visit the site at www.sec.gov.

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