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FreeEdgar.com just got a little bit less free. The company announced that it will begin charging its more inquisitive users for its previously free "Watchlist" e-mail alerts.

The "Watchlist" alerts allow users to track the SEC filings of target companies the user specifies. Now, users who want to use a "Watchlist" to track SEC filings of more than five companies must pay a monthly charge of $9.95.

"There are around 100,000 users of the service," FreeEdgar Senior Vice President Jay Sears told C|net's news.com. The company has apparently just realized that many of these users are using its data for financial gain. "We found that many of them work at banks and law firms and use it for commercial reasons," said Sears.