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The Standard Industrial Classification Codes that appear in a company’s EDGAR filings indicate the type of business a company engages in and are used by Corp Fin to assign review responsibility for the company’s filings. Sometimes, a company’s business may change sufficiently over time to result in a change in its primary SIC code – which raises the question, “How does a company request the SEC to change in its SIC code?” One of our members recently did this for a client, and shared with us the following roadmap for requesting a change:

We had occasion to look into changing an SIC code for a client, and the info on the SEC’s website is outdated. Here is the updated information we received:

You need to send an e-mail requesting the SIC code change to: EDGARFilingCorrections@sec.gov. The email needs to include:
o Name of company
o CIK
o Current SIC
o Requested new SIC
o See sample e-mail below

The request will be reviewed by the committee that reviews these requests periodically. Note: There is dated information on the Internet indicating the SEC only reviews these requests in June of each year but that is no longer the case. These requests are reviewed on a rolling basis.

Once approved, the change in SIC code will not take effect until you make your next required filing with the SEC (e.g., 8-K, 10-Q, 10-K, etc.). Note: The new SIC code will not be approved unless it is representative of your primary source of revenue.

Sample e-mail:

Subject: SIC Code update for [INSERT COMPANY NAME] (CIK [INSERT CIK])

We are respectfully requesting an update to the following SIC code:

CIK [INSERT CIK]
Company Name [INSERT COMPANY NAME]
Current SIC [INSERT CURRENT SIC]
Requested SIC [INSERT NEW SIC]

Writing this blog brought to mind one of my favorite examples of a corporation completely changing its business – a company called Mary Carter Paint, which in the late 1960s opted to get out of the paint business and into something else. When it did that, it changed its name to one you’re probably much more familiar with – “Resorts International.”

– John Jenkins