The U.S. Securities and Exchange Commission (SEC) announced that it will permit all companies to submit their pre-initial public offering (IPO) filings for regulatory review without also making them public in an effort to encourage more companies to go public.

This process was introduced for certain emerging companies under the JOBS Act, but the SEC is now going to extend it to all firms that are contemplating an IPO.

The SEC says that the provision provides companies with more flexibility to plan an IPO. It can also reduce exposure to market fluctuations that can affect the offering process adversely.

The new approach will take effect July 10. The SEC says that it will be available for IPOs and for most offerings made in the first year after a company has entered the public reporting system.

“This process makes it easier for more companies to enter and participate in our public company disclosure-based system,” says Bill Hinman, director of the SEC’s corporate finance division, in a statement. “This is an important step in our efforts to foster capital formation, provide investment opportunities and protect investors.”