IRCLMAJul 20

FinSAgent: Corpus-Aligned Multi-Agent RAG Framework for Evidence-Grounded SEC Filing Question Answering

arXiv:2607.1810222.1
Predicted impact top 4% in IR · last 90 daysOriginality Incremental advance
AI Analysis

For financial analysts and regulators needing evidence-grounded answers from SEC filings, FinSAgent addresses prior-corpus misalignment in retrieval, a known bottleneck in domain-specific QA.

FinSAgent introduces a multi-agent RAG framework for SEC filing QA that aligns retrieval with corpus structure, achieving improved retrieval coverage and answer correctness over baselines across five benchmarks and higher user ratings in a 1,000-participant online experiment.

Financial question answering over U.S. Securities and Exchange Commission (SEC) filings requires retrieving and synthesizing heterogeneous evidence dispersed across long, standardized, and highly redundant disclosures. Existing retrieval-augmented and multi-agent systems typically derive retrieval queries directly from the user's question and rank candidates by semantic similarity. Together, these choices create prior-corpus misalignment: a mismatch between model priors and the target filings' structure, terminology, and evidence standards. As a result, query generation misses corpus-specific evidence, while semantic reranking favors topically similar but evidentially invalid false-positive chunks. We propose FinSAgent, an evidence-grounded multi-agent framework that reframes SEC filing QA as corpus-aligned retrieval planning and corrects both ends with a single principle: inject corpus-side conditioning wherever model priors would otherwise dominate. FinSAgent combines (1) role-specialized agents anchored to the mandated 10-K item structure, (2) database-aware query decomposition that conditions each agent's sub-queries on a lightweight, summary-level view of the local corpus, and (3) multi-path retrieval with a learned feature-gated reranker that separates evidential validity from semantic similarity. Across five offline financial QA benchmarks, FinSAgent improves retrieval coverage and answer correctness over strong single-agent and multi-agent baselines; in a three-arm randomized online experiment with 1,000 anonymous user ratings, it also receives higher scores than baselines.

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