"Nearly every filing starts with the same fundamental question: What changed, and what does it mean for us?" said Payton McCoy, CEO and co-founder of Greenshoe, in a statement. "Public companies have always had an obligation to stay current—the technology simply hasn't existed to make that practical. Today, market, regulatory and governance developments happen continuously. Disclosure intelligence should too."
The new feature continuously monitors SEC filings, SEC rules and guidance, peer disclosures, governance developments and relevant market events. The platform identifies changes that may have disclosure implications and summarizes what changed, why it matters, and what sections of future filings may be affected.
A reporting or legal team logs into Greenshoe. From there, the dashboard highlights new regulatory developments, peer disclosure changes, governance events and other items that may affect future SEC filings. Users can investigate these developments, review the supporting sources and ask follow-up questions using the AI research assistant. As drafting begins, users generate or revise disclosure language using company-specific context, peer filings and the applicable SEC guidance. Before it's filed, the draft is run through Greenshoe's AI form check engine, which validates the filing against applicable SEC rules and generates an auditable report identifying missing or incomplete disclosures. Finally, the draft can then be exported to Microsoft Word for review and filing. People can also file in Greenshoe with the company's print/file partners.
The platform this new feature runs on operates through multiple specialized intelligence systems working together rather than a single LLM. Examples include a monitoring layer that continuously indexes new SEC filings, SEC guidance, governance developments and relevant market events; a retrieval layer that identifies the most relevant regulations, peer disclosures and company history for a given question; specialized AI agents for research, drafting, peer analysis and form validation; and a citation layer that grounds responses in the underlying SEC rules, filings and source documents so users can verify outputs.
Dr. Yi Zhang, the chief technology officer and co-founder of Greenshoe, said the feature is meant to help teams get away from periodic disclosure reviews tied to quarterly and annual cycles, which limits the ability to address new SEC guidance, peer filings and company developments as they arise, causing issues to accumulate until the next reporting period.
"Public company reporting has always been constrained by point-in-time technology," said Zhang. "Our goal was to build intelligence that works continuously in the background, connecting new information to existing disclosures as it emerges. That allows reporting teams to keep pace without changing the way they work."
