With the latest version of the GoFiler family of products, the ability to natively read JSON files has been added to Legato. In this week’s blog, we will discuss the new JSON functions and how they can be used. Keep in mind that you must be using version 5.3a or later of GoFiler or version 1.2i of Legato Basic in order to run the examples from this blog. Also this blog explores some very basic Javascript; knowledge of Javascript may be helpful.
Continue reading "LDC #168: Reading JSON with Legato" »Monday, March 16. 2020
LDC #168: Reading JSON with Legato
Thursday, March 12. 2020
SEC Reduces Burdens on Smaller Issuers by More Appropriately Tailoring Filer Definitions
The SEC adopted amendments to the accelerated filer and large accelerated filer definitions on March 12th. These amendments will more appropriately tailor the types of issuers that are included in these definitions, thereby reducing unnecessary burdens and compliance costs for some smaller issuers while maintaining investor protections. The SEC and Congress have a historical practice of providing scaled disclosure and other accommodations to reduce burdens for new and smaller issuers, and these amendments further that goal.
Continue reading "SEC Reduces Burdens on Smaller Issuers by More..." »
SEC Amends Exemptions from Investment Adviser Registration for Advisers to Rural Business Investment Companies
On March 2nd, the SEC adopted amendments to two rules in order to implement congressionally mandated exemptions from registration for investment advisers who advise rural business investment companies (RBICs). These exemptions are part of the RBIC Advisers Relief Act of 2018, which amended the Investment Advisers Act.
Continue reading "SEC Amends Exemptions from Investment Adviser..." »Wednesday, March 11. 2020
SEC Requests Comment on Fund Names Rule
The SEC announced on March 2nd that it is requesting comment on its current requirements restricting the use of potentially misleading fund names. Because fund names are often the first piece of information investors see, they can have a significant impact on an investment decision. The SEC’s request seeks public opinion on the current requirements and whether are effective. In addition, they are interested in viable alternatives that the they should consider. This request is the latest in the SEC’s ongoing efforts to review and improve existing rules to better inform and protect investors.
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Continue reading "SEC Requests Comment on Fund Names Rule" »
Tuesday, March 10. 2020
SEC Provides Assistance for Companies Affected by COVID-19
On March 4th, the SEC announced that it will provide conditional regulatory relief for certain publicly traded company filing obligations under the federal securities laws due to the impact of the Coronavirus Disease 2019 (COVID-19). These impacts may present challenges for certain companies that are required to provide information to trading markets, shareholders, and the SEC. These companies may include US companies located in or companies with operations in affected areas.
Continue reading "SEC Provides Assistance for Companies Affected..." »SEC Proposes to Modernize Key Market Infrastructure Responsible for Managing Securities Market Data
The SEC proposed on February 14th to modernize the infrastructure for the collection, consolidation, and dissemination of market data for exchange-listed market system (NMS) stocks. The proposal would update and expand the content of NMS market data, which would better suit the diverse needs of investors in today’s equity markets. The rules that govern the content and dissemination of NMS market data have not been significantly updated since their initial implementation in the late 1970s. In addition, the proposal seeks to introduce competitive forces into the national market system for the first time. The introduction of and competition among these new data consolidators could, in turn, allow all market participants, including investors, to access and benefit from the expanded content of NMS market data.
Continue reading "SEC Proposes to Modernize Key Market..." »Monday, March 09. 2020
New Release (5.3a) for the GoFiler Family of Products
Version 5.3a of all applications in the GoFiler Suite has been released. This release corresponds to EDGAR 20.1.1 and contains support for the 2020 XBRL taxonomies. Additionally, changes and improvements have been made to Page View, XBRL validation and XDX processing.
Continue reading "New Release (5.3a) for the GoFiler Family of..." »SEC Postpones Conference on Municipal Securities Disclosure
On March 9th, the SEC announced that it is postponing its conference on municipal securities disclosure entitled “Spotlight on Transparency: A Discussion of Secondary Market Municipal Securities Disclosures Practices”.
Continue reading "SEC Postpones Conference on Municipal..." »
SEC Releases EDGAR 20.1.1
On March 9, 2020, EDGAR Release 20.1.1 was released by the Securities and Exchange Commission. This release includes support for the new 2020 XBRL taxonomies as well as a change that permits filers to annotate their filing-specific custom elements.
Continue reading "SEC Releases EDGAR 20.1.1" »
Wednesday, March 04. 2020
Fee Rate Advisory #3 for Fiscal Year 2020
On February 28, 2020, the Securities and Exchange Commission announced the third fee rate advisory for fiscal year 2020. Pursuant to Section 31(j)(2) of the Securities Exchange Act of 1934, the SEC has determined that a mid-year adjustment to the Section 31 fee rate for fiscal year 2020 is not required.
Continue reading "Fee Rate Advisory #3 for Fiscal Year 2020" »Monday, March 02. 2020
SEC to Hold National Compliance Outreach Seminar for Investment Companies and Investment Advisers
On February 25th, the SEC announced it would be opening registration for its compliance outreach program’s national seminar for investment companies and investment advisers. This event is intended to aid chief compliance officers (CCOs) and other senior personnel at investment companies and advisory firms in enhancing their programs to benefit the protection of investors. The compliance outreach program is jointly sponsored by the SEC’s Office of Compliance Inspections and Examinations, the Division of Investment Management, and the Asset Management Unit of the Division of Enforcement.
Continue reading "SEC to Hold National Compliance Outreach..." »Friday, February 28. 2020
LDC #167: A Quick Web Link Builder Part II
Last month I described a tool I built to create and insert web news links in my blog, “A Quick Web Link Builder”. I recently expanded the functionality to load the web page and extract information to load link information into the dialog, thus making linking an even quicker process.
Continue reading "LDC #167: A Quick Web Link Builder Part II" »
Thursday, February 27. 2020
SEC Updates PAUSE List of Firms Using Inaccurate Information to Solicit Investors
On February 24th, the SEC updated its Public Alert: Unregistered Soliciting Entities (PAUSE) list, which contains entities that have been subject of investor complaints. This list of entities falsely claim to be registered, licensed, and/or located in the United States, impersonate genuine registered securities firms, and claim to be fictitious regulators, government agencies, or organizations. The goal of the PAUSE list is to better inform investors so that they can avoid becoming the victim of fraud.
Continue reading "SEC Updates PAUSE List of Firms Using..." »Monday, February 17. 2020
Removal of Investment Schedule (INVEST) Taxonomies
The SEC Office of Structured Disclosure has announced that the 2012 and 2013 INVEST taxonomies will no longer be supported by EDGAR as of the EDGAR release currently scheduled for March 9, 2020. These taxonomies were intended for use in the voluntary filing program. The voluntary filing program has ended, so support for these taxonomies will be removed.
Continue reading "Removal of Investment Schedule (INVEST) Taxonomies" »Friday, February 07. 2020
LDC #166: Forcing a Subject Company Name Lookup For 13D/G Filings
This week, we’re taking a look at automating the subject company lookup on SC13D/G filings. This is another request from a client, but I think it provides a good opportunity to look at automation of a pretty simple task that otherwise might be forgotten and overlooked by a busy operator. This script will trigger when a user opens a project file (a .GFP file), if and only if the project being opened is of document type SC 13D or SC 13G. These are the best kinds of tasks to automate, because they are specific, and easily forgotten by an operator. If the document opened meets these criteria, the CIK of the subject company will be looked up, and the name of the subject company will be looked up on the EDGAR system and entered into the name field. This is very useful if you have an automated system that is creating .GFP files (not very hard, it’s a pretty simple file format), but you cannot guarantee that system has access to the most current names of companies. For example, if the system generating the GFP files has an outdated database of names, you would want to make sure that the subject company is replaced with current information on file open. This is where our script comes in.
Continue reading "LDC #166: Forcing a Subject Company Name Lookup..." »
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