On November 7th, the SEC released drafts of the 2023 updates to its reporting taxonomies, including updates as part of the annual review and update process for all SEC taxonomies accepted in the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. The Draft 2023 Release Notes contain more information concerning the specific changes in the 2023 update. The draft taxonomies are open to public review to gather feedback to continue to improve the process for creating and using structured filings.
The public review period ends January 4, 2023. The draft taxonomy files can be found at the Draft Taxonomies website. As part of the public review process, the SEC asks filers, investors, analysts, software service providers, and other interested parties to provide comments via email to StructuredData@sec.gov using “Draft 2023 SEC Taxonomies” as the subject of the email. In addition, the SEC has posted sample filings related to the draft 2023 version of the Closed-End Fund taxonomy here.
The availability of the draft 2023 update to the SEC taxonomies does not indicate SEC acceptance of any potential regulatory changes; the taxonomies will be subject to SEC approval when the public review period has ended and feedback has been considered. Please refer to the SEC’s EDGAR webpage for updated information on any SEC-approved changes related to the EDGAR Filer Manual. Any transition guidance will be available on the standard taxonomies page.