On June 20th, 2017, the Securities and Exchange Commission named Robert Evans III as the Deputy Director in the Division of Corporation Finance.
Continue reading "SEC Names Robert Evans III as Deputy Director..." »Thursday, June 22. 2017
SEC Names Robert Evans III as Deputy Director in the Division of Corporation Finance
Wednesday, June 21. 2017
How To Schedule an EDGAR Filing
Through Novaworks Submission Service (NSS), it’s possible to automatically schedule filings. This is an extremely handy tool to help streamline your submission process, as not only can you prepare your filing in advance, you can also have GoFiler send it to the SEC for you and notify you and your production team of the filing’s status.
Continue reading "How To Schedule an EDGAR Filing" »Friday, June 16. 2017
LDC #39: Application Initialize Script
So far, every script we’ve explored has been a hook of some sort. They attach themselves to new or existing menu icons or are triggered by other functions being run. What if you want something to run on application start? Legato supports this through the Application Initialize script. On program start, GoFiler will always run the ApplicationStartup.ls script. This script file is the one that’s responsible for running every other script in the extensions folder. This allows users to create their own custom startup routines that are run before literally anything else.
Continue reading "LDC #39: Application Initialize Script" »Thursday, June 15. 2017
Styles Come and Go; Consistency Is Timeless
A taxonomy style guide isn’t about creating a memorable “style”. The style guide is about building clear, transparent, understandable standards that result in predictable communication every time. XBRL relies on a taxonomy of concepts to identify facts, contexts and other relationships. Any ambiguity in the language used within that taxonomy to communicate data, could produce inconsistent results.
Continue reading "Styles Come and Go; Consistency Is Timeless" »Wednesday, June 14. 2017
Public Comments Available for SEC's Proposal for Inline XBRL Tagging
In March, the SEC introduced proposed changes to include Inline XBRL Tagging in financial filings. We covered these proposed amendments in this blog post. The public comment period recently ended on May 16th, and the comments are available to read here. XBRL US offered one such comment on the proposed requirements to include Inline XBRL in financial filings, and in it expressed agreement that inclusion on Inline XBRL will help to improve the quality of reported structured financial data while reducing the burden on filers.
Continue reading "Public Comments Available for SEC's Proposal..." »Monday, June 12. 2017
The House of Representatives Passes the Financial CHOICE Act
On Thursday, June 8th, the House of Representatives passed the Financial Creating Hope and Opportunity for Investors, Consumers, and Entrepreneurs Act (the Financial CHOICE Act) along mostly partisan lines. This act would reverse or change many of the reforms of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was passed into law in 2010 in response to the financial issues seen in the Great Recession.
Continue reading "The House of Representatives Passes the..." »Friday, June 09. 2017
LDC #38: Save and Open Dialogs
This week we’re going to talk about using save and open file dialogs with Legato. While previous posts have used these functions in scripts, we’re going to go into a lot more detail about what you can do with these dialogs this time. This is going to be a fairly limited blog in terms of code as it is difficult to create example scripts of save and open file dialogs without doing a lot of extraneous coding. As a result, this blog will contain a number of small snippets of code that are all examples of using dialogs but not a full example script. If you would like a full script using a file dialog, check out this previous script which inserts text into an HTML edit window.
Continue reading "LDC #38: Save and Open Dialogs" »Friday, June 02. 2017
LDC #37: Automated Test Filing XBRL, Part 2
Last week, we created a way to create template files for test filing XBRL in GoFiler. We also designed a method to open and edit them easily. Now it’s time to add the next level of functionality to this project: a script that allows us to test file XFR files with a single button press. This script will create a pair of new folders in the same directory as the XFR file: “Automated Test File” and “Automated Test Archive”. The first folder will contain the most recent test filing, while the latter will contain a copy of every test filing submitted to the SEC just in case it’s needed for future reference.
Continue reading "LDC #37: Automated Test Filing XBRL, Part 2" »
Thursday, June 01. 2017
Form N-1A: New Changes Require Funds To Describe Fund Share Redemption Procedures
Filers must comply with the amendments to the registration form used by open-end funds (Form N-1A) that require funds to describe their procedures for redeeming fund shares starting today, June 1, 2017.
Continue reading "Form N-1A: New Changes Require Funds To..." »SEC Fee Rate Advisory #3 for 2017
Starting on July 4, 2017, the fee rates applicable to most securities transactions will be set at $23.10 per million dollars. Each SRO will continue to pay the SEC a rate of $21.80 per million for covered sales occurring on charge dates through July 3, 2017, and a rate of $23.10 per million for covered sales occurring on charge dates on or after July 4, 2017.
Continue reading "SEC Fee Rate Advisory #3 for 2017" »Friday, May 26. 2017
LDC #36: Automated Test Filing XBRL, Part 1
This week our blog will focus on another common task that can be automated with GoFiler. When working on an XBRL file, test filing it with the SEC is very routine. GoFiler can validate it, but there is no substitute for pushing it up to the SEC to see if it will pass or fail a test filing. Right now, to test file an XBRL file, a project must be created, and the XFR file must be exported to an XBRL fileset. Then the files should be attached to the project. Then you need to attach a dummy HTML or TXT file onto the project as a primary document before finally test filing it. This whole process can take 3-4 minutes . While that doesn’t sound like a lot, it can be annoying to have to do it over and over again while working on multiple filings. Using Legato, however, we can streamline this process down to a single button press.
Continue reading "LDC #36: Automated Test Filing XBRL, Part 1" »
Friday, May 19. 2017
LDC #35: Accessing Text Files
There are many occasions when a programmer needs to read or write from a text file (or HTML/XML). While sometimes you may need to complete just a minor task like accessing a file name, other times you may have to hold and edit the file contents. Legato offers a spread of low to high level functions for file access. This article explores various methods of manipulating file data. In subsequent articles, we will explore each in detail.
Continue reading "LDC #35: Accessing Text Files" »Monday, May 15. 2017
Proposed Amendments to Investment Advisers Act Rules
The SEC has proposed amendments to the definition of a venture capital fund and the private fund adviser exemption under the Investment Advisers Act of 1940 in order to reflect changes made by the Fixing America’s Surface Transportation Act (FAST Act) of 2015.
Continue reading "Proposed Amendments to Investment Advisers Act..." »Friday, May 12. 2017
LDC #34: XBRL Merger, Part 4
This is the fourth and final blog post in this series. In this last entry, we will be taking everything we’ve written so far and adding to it a couple of new functions to allow us to take two separate XFR files and merge the instance files together into a single file. In the end, we’ve allowed the user to select two files to compare, altered the currencies as necessary, merged the files, and exported the instance files into a single document.
Continue reading "LDC #34: XBRL Merger, Part 4" »
Wednesday, May 10. 2017
XBRL US Style Guide Open For Public Review
XBRL US has started a 90-day public exposure period for the XBRL US Style Guide, which was recently revised, updated, and released by the XBRL US Domain Steering Committee. The comment period began on April 17th and continues through July 17th. The Domain Steering Committee intends for the Style Guide to facilitate the creation of consistent, high-quality XBRL taxonomies by providing uniform guidelines and recommendations.
Continue reading "XBRL US Style Guide Open For Public Review" »
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