feat(offerings): expose the EFFECT notice's effective time

changelog.d/1499.added.md

@@ -0,0 +1 @@
+**`Effect.effective_time` returns the time of day a registration became effective.** `Effect.from_xml()` dropped the notice's `finalEffectivenessDispTime`: Lyntris Inc.'s S-1 notice (`9999999995-26-002694`) gave only `2026-08-18`, and now also gives `15:30:00`. The property is `None` when the notice has no time, as on Fitness Fanatics' POS AM notice. `effective_date` now documents that SEC publishes the notice at about 00:15 ET on the next business day. (GH #1499)

docs/guides/effect-data-object-guide.md

@@ -49,6 +49,7 @@ Columns: `cik`, `entity`, `source` (the source form type), `live` (True for prod
 |----------|------|-------------|---------|
 | `submission_type` | `str` | Always `"EFFECT"` | `"EFFECT"` |
 | `effective_date` | `str` | Date the registration was declared effective | `"2024-06-15"` |
+| `effective_time` | `str \| None` | Time of day it became effective (Eastern), when the notice gives one | `"15:30:00"` |
 | `cik` | `str` | CIK of the registrant | `"0000038723"` |
 | `entity` | `str` | Entity name | `"ACME CORP"` |
 | `source_submission_type` | `str` | Form type that was made effective | `"S-1"`, `"POS AM"`, `"S-3"` |
@@ -68,6 +69,8 @@ Columns: `cik`, `entity`, `source` (the source form type), `live` (True for prod
 
 The `effective_date` is returned as a string in `YYYY-MM-DD` format, not a `datetime` object.
 
+An EFFECT notice is not public on its filing date. Its `filing_date` equals `effective_date`, but SEC accepts and publishes the notice at about 00:15 ET on the next business day (Lyntris Inc.: filed 2026-08-18, accepted 2026-08-19 00:15:13). For point-in-time work, use `filing.header.acceptance_datetime`.
+
 ## Related
 
 - [Working with Filings](../guides/working-with-filing.md)

edgar/offerings/effect.py

@@ -27,9 +27,11 @@ def __init__(self,
                  accession_no: Optional[str],
                  submission_type: Optional[str],
                  form: Optional[str],
-                 filer: Filer
+                 filer: Filer,
+                 final_effective_time: Optional[str] = None
                  ):
         self.final_effective_date: str = final_effective_date
+        self.final_effective_time: Optional[str] = final_effective_time
         self.file_number: Optional[str] = file_number
         self.accession_no: Optional[str] = accession_no
         self.form: Optional[str] = form
@@ -55,8 +57,24 @@ def __init__(self,
 
     @property
     def effective_date(self) -> str:
+        """Date the registration became effective (YYYY-MM-DD).
+
+        The notice's filing date equals this date, but SEC accepts and publishes
+        the notice at about 00:15 ET on the next business day, so it is not
+        public on its filing date. For point-in-time use, read
+        `filing.header.acceptance_datetime`.
+        """
         return self.effectiveness_data.final_effective_date
 
+    @property
+    def effective_time(self) -> Optional[str]:
+        """Time of day the registration became effective (HH:MM:SS, Eastern), or None.
+
+        The element is optional: the POS AM notices for Fitness Fanatics
+        (9999999995-25-003344) and 1st Franklin Financial carry none.
+        """
+        return self.effectiveness_data.final_effective_time
+
     @property
     def cik(self):
         if self.effectiveness_data.filer:
@@ -121,6 +139,8 @@ def to_context(self, detail: str = 'standard') -> str:
 
         # === CORE METADATA ===
         lines.append(f"Effective Date: {self.effective_date}")
+        if self.effective_time:
+            lines.append(f"Effective Time: {self.effective_time} ET")
         lines.append(f"Source Form: {self.source_submission_type}")
         if self.source_accession_no:
             lines.append(f"Source Accession: {self.source_accession_no}")
@@ -136,6 +156,7 @@ def to_context(self, detail: str = 'standard') -> str:
         lines.append("  .get_source_filing()       Navigate to the source filing")
         lines.append("  .summary()                 Summary as DataFrame")
         lines.append("  .effective_date            When the filing became effective")
+        lines.append("  .effective_time            Time of day it became effective (ET), if given")
         lines.append("  .source_submission_type    Form type that was made effective")
 
         return "\n".join(lines)
@@ -186,6 +207,7 @@ def from_xml(cls,
             is_live=child_text(root, "testOrLive") == 'LIVE',
             effectiveness_data=EffectiveData(
                 final_effective_date=child_text(effectiveness_el, "finalEffectivenessDispDate"),
+                final_effective_time=child_text(effectiveness_el, "finalEffectivenessDispTime"),
                 accession_no=child_text(effectiveness_el, "accessionNumber"),
                 file_number=child_text(effectiveness_el, "fileNumber"),
                 submission_type=child_text(effectiveness_el, "submissionType"),

tests/issues/regression/test_issue_1499.py

@@ -0,0 +1,66 @@
+"""
+Regression test for GitHub issue #1499: the EFFECT notice's effective time was dropped
+
+An EFFECT notice for an initial registration carries <finalEffectivenessDispTime>
+beside <finalEffectivenessDispDate>, and Effect.from_xml() read only the date.
+The XML below is Lyntris Inc.'s S-1 notice (9999999995-26-002694) and Fitness
+Fanatics' POS AM notice (9999999995-25-003344), as SEC serves them. Lyntris's
+filing date is 2026-08-18 but SEC accepted the notice at 2026-08-19 00:15:13;
+Fitness Fanatics' is 2025-11-21 (a Friday), accepted 2025-11-24 00:15:20.
+
+GitHub Issue: https://github.com/dgunning/edgartools/issues/1499
+"""
+
+from edgar.offerings.effect import Effect
+
+LYNTRIS_S1_EFFECT = """<?xml version="1.0"?>
+<edgarSubmission>
+    <schemaVersion>X0101</schemaVersion>
+    <submissionType>EFFECT</submissionType>
+    <act>33</act>
+    <testOrLive>LIVE</testOrLive>
+    <effectiveData>
+        <finalEffectivenessDispDate>2026-08-18</finalEffectivenessDispDate>
+        <finalEffectivenessDispTime>15:30:00</finalEffectivenessDispTime>
+        <form>S-1</form>
+        <filer>
+            <cik>0002132582</cik>
+            <entityName>Lyntris Inc.</entityName>
+            <fileNumber>333-297657</fileNumber>
+        </filer>
+    </effectiveData>
+</edgarSubmission>
+"""
+
+FITNESS_FANATICS_POS_AM_EFFECT = """<?xml version="1.0"?>
+<edgarSubmission>
+    <schemaVersion>X0101</schemaVersion>
+    <submissionType>EFFECT</submissionType>
+    <act>33</act>
+    <testOrLive>LIVE</testOrLive>
+    <effectiveData>
+        <finalEffectivenessDispDate>2025-11-21</finalEffectivenessDispDate>
+        <accessionNumber>0001493152-25-019212</accessionNumber>
+        <submissionType>POS AM</submissionType>
+        <filer>
+            <cik>0002065232</cik>
+            <entityName>Fitness Fanatics Ltd</entityName>
+            <fileNumber>333-289484</fileNumber>
+        </filer>
+    </effectiveData>
+</edgarSubmission>
+"""
+
+
+def test_effective_time_is_read_from_the_notice():
+    effect = Effect.from_xml(LYNTRIS_S1_EFFECT)
+    assert effect.effective_date == "2026-08-18"
+    assert effect.effective_time == "15:30:00"
+    assert "Effective Time: 15:30:00 ET" in effect.to_context()
+
+
+def test_effective_time_is_none_when_the_notice_has_none():
+    effect = Effect.from_xml(FITNESS_FANATICS_POS_AM_EFFECT)
+    assert effect.effective_date == "2025-11-21"
+    assert effect.effective_time is None
+    assert "Effective Time" not in effect.to_context()