XBRL US will host a virtual conference to discuss the SEC’s final rule for Tailored Shareholder Reports for Mutual Funds and Exchange-Traded Funds; Fee Information in Investment Company Advertisements. The rule introduces new requirements for annual and semi-annual shareholder reports provided by mutual funds and exchange-traded funds to highlight key information for shareholders. Under the rule, funds are required to tag their reports to shareholders using Inline XBRL, which yields machine-readable data that retail investors and other market participants may use to access and evaluate investments more efficiently. {expires: 2024-05-16} Continue reading "XBRL US Announces Webinar: SEC Rule – Tailored..." »

On April 11th, the SEC announced that it has delayed the effective date for rules adopted in March 2024 under the Securities Act and Securities Exchange Act that require domestic and foreign registrants to include specific climate-related data in their annual reports and registration statements. The final rules require information about a registrant’s climate-related risks that have materially impacted, or are reasonably likely to have a material impact on, its business strategy, results of operations, or financial condition. Continue reading "SEC Delays Effective Date for Rule Related to..." »

On March 27th, the SEC adopted new Regulation SE under the Securities Exchange Act that creates a regime for the registration and regulation of security-based swap execution facilities (SBSEFs). The new regime also addresses other issues related to security-based swap execution. Continue reading "SEC Adopts New Rule Regarding Security-Based..." »

As of 9:30 a.m. ET on Thursday, March 21, 2024, the SEC has resolved the technical issues with its EDGAR System that involved some iXBRL filings. The EDGAR System is now operating normally. Continue reading "Updated: EDGAR Technical Difficulties with Some..." »

On March 18, 2024, the SEC upgraded the EDGAR system to Release 24.1. The system now supports the 2024 XBRL reporting taxonomies. The SEC does not anticipate the removal of the 2022 versions of any taxonomies to occur before June 2024. Continue reading "SEC Issues 2024 XBRL Taxonomies Update" »

The SEC announced that its Division of Economic and Risk Analysis (DERA) reviewed certain Forms 10-Q and Forms 10-K filed in 2023 to determine whether filers’ cash flow statement data element presentation structure (such as parent and descendant relationship) is organized correctly. Cash flow statement presentation structure includes three parents: Net Cash Provided by or Used in the Operating Activities Abstract, Financing Activities Abstract, and Investing Activities Abstract. Continue reading "SEC Staff Reviews Cash Flow Statement Data..." »

On March 6th, the SEC announced that it is adopting amendments to its rules under the Securities Act and Securities Exchange Act that will make it mandatory for domestic and foreign registrants to include specific climate-related data in their annual reports and registration statements. The SEC initially proposed the rules in March 2022. The final rules will require information about a registrant’s climate-related risks that have materially impacted, or are reasonably likely to have a material impact on, its business strategy, results of operations, or financial condition. Continue reading "SEC Approves Amendments to Enhance and..." »

The SEC has provided guidance on how to prepare and submit Inline XBRL filing fee exhibits (EX-FILING FEES) to the EDGAR system. This guidance is provided in accordance with the SEC’s Filing Fee Disclosure and Payment Methods Modernization rule, adopted in October 2021. As a reminder, GoFiler already provides a new filing fee disclosure preparation tool. Continue reading "SEC Provides Guidance on Inline XBRL Filing Fee..." »

On January 26th, the Financial Accounting Standards Board (FASB) released two proposed Taxonomy Implementation Guides based on the 2024 US GAAP Financial Reporting Taxonomy, which is currently under consideration by the SEC. These guides focus on the XBRL modeling for the reporting of leases and reporting by investment companies. Continue reading "FASB Releases Proposed Taxonomy Implementation..." »

On January 29th, the EDGAR system has been updated with interim release 24.0.1 and now supports the Filing Fee Disclosure (FFD) taxonomy. This taxonomy provides the elements for tagging data related to the SEC’s new rule on filing fee disclosures using Inline XBRL. Continue reading "SEC Announces 2024 Filing Fee Disclosure (FFD)..." »

Last month the FASB released proposed updates to the US GAAP Financial Reporting Taxonomy (GRT) related to a proposed Accounting Standards Update (ASU) on Debt with Conversion and Other Options. Updates to the proposed taxonomy will include new elements and reference modifications. The proposed updates to the GRT are just some of several updates released throughout the year as proposed ASUs are issued. The GRT, which includes all of these taxonomy updates, is published in the last quarter of each calendar year. Continue reading "FASB Publishes Proposed Updates for US GAAP..." »

To explore the impact of the Financial Data Transparency Act (FDTA) of 2022, XBRL US will hold a webinar that will feature discussions with municipal bond investors who will share their views on what data they use, what kind of issuers they follow, and how access to digitized municipal bond issuer data could change how they work. The FDTA requires disclosures from municipal bond issuers to be made available to investors and other data users in a searchable, machine-readable and structured format. Municipal bond investors will also share insights on the technology impact of data standards, machine-learning, and artificial intelligence on the municipal marketplace. The virtual seminar will take place on January 17, 2024, from 3:00 p.m. – 4:00 p.m. ET. {expires: 2023-01-18} Continue reading "XBRL US Webinar: FDTA Impact on Municipal Bond..." »

On December 15th, the SEC announced that it adopted rule amendments related to the settlement cycle for most broker-dealer transactions, the processing of institutional trades by broker-dealers and certain clearing agencies, and certain record maintenance requirements applicable to registered investment advisers. For further details, see the Shortening the Securities Transaction Settlement Cycle final rule. Continue reading "SEC Releases Draft 2024 Self-Regulatory..." »

On Friday, December 22, 2023, the EDGAR Filing Fee Beta will close. The Beta has provided the public with an environment to test EDGAR changes related to the technical and structured data aspects of the Filing Fee Disclosure and Payment Methods Modernization rule. Participants are encouraged to complete testing and submit feedback via email to FilingFeeBetaFeedback@sec.gov before the Filing Fee Beta closes. The SEC does not plan to offer an additional EDGAR Filing Fee Beta system prior to the upcoming compliance dates. {expires: 2023-12-23} Continue reading "Reminder: EDGAR Filing Fee Beta Ending Soon" »