Should SEC Verify Relationships Amid Filers & Companies?

A recent SEC filing scam, which victimized Warren Buffett’s company, Berkshire Hathaway, suggests that the SEC should verify the relationship between the people doing company filings and the companies themselves to prevent future scams. We agree. At Edgar Agents, we suggest working with a trust-worthy filing agent with an excellent reputation to handle your filings to stay compliant and within budget. An article in Forbes.com reported that a pair of filings on the SEC website claimed Berkshire Hathaway had taken new stakes in both Kraft Heinz and Phillips 66. The filings also claimed that the new investments were jointly owned by Berkshire and a company named LMZ, in which the SEC forms appear to have been submitted by someone named Loreto M. Zamora. The forms listed a Philippines address and listed Zamora as a director of Kraft Heinz. When asked, Buffet had no knowledge of this company or Zamora. Although accountants might take some heat for not double checking the facts, the article states that the lax rules for anyone filing with the SEC is the main problem because all that is needed to make a filing is an address and a letter signed by a notary. As a solution, the article suggests that the SEC provide a list of approved filers for companies to work with. We happen to agree with this as well. A list of approved filers would help weed out the sub-standard filing agencies that might mislead companies into serious legal problems. We are also confident that you will find Edgar Agents at the top of that list approved list. In our 18 years of experience in electronic filings, we have not once encountered a legal problem that involved illegal procedures. Our reputation has remained strong and steady in the industry since 1997. Finally, the article admits that the SEC cannot be responsible for double checking every single filing that comes through daily, but perhaps a further delay in the 10-day window it currently provides for filings would give the SEC more time to at least give them a once-over. With Edgar Agents’ quick turnaround times and 24/7 availability, including weekends, your filings will be compliant and with the SEC much sooner than that. You can be sure the SEC will have time to review your filing for sure. To learn more about Edgar Agents and our services, visit our website at www.edgaragents.com or call us at 732-780-5036.