Wednesday, July 19. 2023
SEC Issues Draft 2023 Share Repurchase (SHR) Taxonomy
On July 17th, the SEC announced that it has released a draft version of the Shareholder Repurchase (SHR) XBRL Taxonomy and accompanying taxonomy guide. In May 2023, the SEC approved amendments to its rules to update and enhance transparency concerning repurchases of an issuer’s equity securities registered under the Securities Exchange Act of 1934.
In compliance with the adopted amendments, issuers must tag the information disclosed under Items 601 and 703 of Regulation S-K, Item 16E of Form 20-F, Item 14 of Form N-CSR, and Form F-SR in Inline eXtensible Business Reporting Language (XBRL).
The final rule amendments require:
- detail tagging of the quantitative amounts disclosed within the required tabular disclosures and block text tagging
- detail tagging of required narrative and quantitative information
The new elements needed to tag these disclosures are in the new Share Repurchases (SHR) taxonomy.
Interested parties may provide feedback via email (with “Draft 2023 SHR Taxonomy” as the subject) to StructuredData@sec.gov by September 8, 2023.
The GoFiler Suite will be updated to support the new SHR taxonomy when a finalized version of the taxonomy is released. Check back here at the blog at novaworks.com for more information.
Sources:
Draft 2023 Share Repurchase (SHR) Taxonomy (sec.gov)
Final Rule - Share Repurchase Disclosure Modernization (sec.gov)
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