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..." »
Monday, June 12. 2017
Friday, June 09. 2017
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
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
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..." »
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
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
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
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
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 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" »
Friday, May 05. 2017
Back in November of 2013, Microsoft released a Security Advisory stating that by January of 2016 Microsoft would no longer allow root authorities to issue certificates using the SHA-1 hashing algorithm. As that date has come and gone, most users probably never even noticed anything happening. This is because browsers were quick to adopt the new changes. E-commerce is part of everyday life and no one wants to buy something from a site that their browser says is insecure. However, SSL certificates are used for many other things, including verifying publishers of software and drivers. This is also known as code signing.Continue reading "Use of SHA-1 SSL Certificates and Windows Server" »
Last week we added to our XBRL Merger script, giving it the ability to export files and compare the exported files to see if they were able to be merged. This week, we’ll take it another step further by adding in the ability to read the XBRL instance files into data structures, add some debug information, and add a progress bar to the run function. This week introduces the concept of debug print messages. Often when writing a script, you will encounter an issue where you’re not sure what the actual value of a variable is. Depending on the integrated development environment (IDE) being used to write the code, you can sometimes step through the code with breakpoints and inspect the values for each variable. While we’re going to be adding that feature to GoFiler’s Legato IDE, for now we find it helpful to insert various functions that print variables to a console. By adding a special function to do this, you can make showing/hiding debug information very easy. See the section on the debug_message function’s code below for more.
Continue reading "LDC #33: XBRL Merger, Part 3" »
Friday, April 28. 2017
This week, we will be continuing to write our XBRL Merger script. The previous post covered how to prompt the user for a pair of files, checked to make sure those files were valid XFR files that we could actually access, and finally made sure that they weren’t the same files. This week we’re taking it a step further by opening the files (or switching to them if they are already open), exporting them to new directories, and comparing the contents of these directories. This script is intended to merge two very similar files, where the only difference is a couple of facts being tagged with a different unit, so the exported file sets need to very closely match.
Continue reading "LDC #32: XBRL Merger, Part 2" »
Monday, April 24. 2017
Rules previously adopted by the Securities and Exchange Commission to facilitate intrastate and regional securities offerings went into effect on April 20th. Specifically, revised Rule 147 and new Rule 147A became effective on this date.Continue reading "Intrastate Offerings Rules Go Into Effect" »
Friday, April 21. 2017
Legato is great at supplementing features that GoFiler already has and hooking into existing functions and modifying how they work slightly. Probably its most powerful ability, however, is to add entirely new functionality to GoFiler. One feature GoFiler doesn’t have natively is the ability to have multiple currency types for a single fact in XBRL. Well, we can add support for that using Legato! The new functionality will be achieved by combining two different XFR files.
Continue reading "LDC #31: XBRL Merger, Part 1" »