The Securities and Exchange Commission announced that it will cut the time it takes to release all correspondence relating to reviews of fillings by the Divisions of Corporation Finance (Corp Fin) beginning Jan. 1 next year.

In a statement released by the division, it said the staff will release filing review correspondence no earlier than 20 business days after completion of the review. As of now, the timeline to release the correspondence is no earlier than 45 days after the review. It said in the statement that the new timeline will further enhance the transparency of the filing review process.

Since 2005, Corp Fin staff has been publicly releasing review correspondence through the EDGAR system. Materials submitted in the correspondence include comment letters and response letters relating to disclosure filings reviewed by the division. EDGAR is the Commission's filing system used by all companies that are required to file registration statements, periodic reports, and other forms electronically.