A key piece of the JOBS Act, passed in March, was allowing emerging growth companies an option to submit confidential draft registration statements to the Securities and Exchange Commission in advance of initial public offerings.
That option for a secretive review, however, hit a major hurdle: the SEC didn’t actually have a system in place to electronically accept submissions without making them public. And so, companies had to resort to hard-copy paperwork, PDFs burned to CDs, or e-mail.
