The Financial Accounting Standards Board (FASB) recently released a proposed XBRL Taxonomy Implementation Guide for Financing Receivable and Current Expected Loss (CECL) disclosures. This guide is based on and in accordance with the SEC Reporting Taxonomy and the US Generally Accepted Accounting Principles Financial Reporting (US GAAP) Taxonomy. The proposed Implementation Guide provides illustrations of disclosures concerning financing receivables pursuant to FASB Accounting Standards Codification, Topics 310, Receivables, and 326, Financing Instruments–Credit Losses. Elements for text blocks, policy text blocks, and table text blocks (Levels 1-3) are not included in the Guide. The publication places focus on detail tagging only (Level 4). {expires: 2021-07-27} Continue reading "FASB Publishes Taxonomy Implementation Guide..." »

On July 2, 2021, the SEC announced that an API (Application Programming Interface) is now available for beta testing on data.sec.gov. In addition to XBRL data from financial statements (Forms 10-Q, 10-K, 8-K, 20-F, 40-F, 6-K, and their variants) in a JSON format, the API features entity information and submission history. Continue reading "SEC Announces EDGAR Structured Disclosure API..." »

On June 25, 2021, top officials from the SEC, the Commodity Futures Trading Commission (CFTC), the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Bank of England assembled remotely to share points of view related to the concept of central counterparty (CCP) resolution. This cross-agency body of senior-level officials, which has been meeting regularly since 2017, also gathers to assess the progress of an ongoing program of joint endeavors among the agencies. Continue reading "US and UK Regulatory Authorities Meet to..." »

The SEC will be closed Monday, July 5 in observance of Independence Day. The EDGAR System will not receive, process or accept filings on this day. Filings with a due date of July 5 will be due the following business day. {expires: 2021-07-06} Continue reading "SEC Closed Monday, July 5" »

Following its upgrade to Release 21.2, the EDGAR system began supporting the 2021 International Financial Reporting Standards (IFRS) Taxonomy. The 2021 IFRS Taxonomy is consistent with that of the International Accounting Standards Board which was made available on the its website on March 24, 2021. Continue reading "SEC Issues XBRL Taxonomy Update" »

The SEC is hosting a virtual meeting of the Asset Management Advisory Committee (AMAC) that will take place on Wednesday, July 7, 2021. The event will begin at 11:00 a.m. ET and will be presented live via webcast for public viewing on sec.gov. {expires: 2021-07-08} Continue reading "SEC to Hold Remote Meeting of the Asset..." »

The SEC’s Atlanta Regional Office (ARO), Operation HOPE, the Federal Trade Commission, and the Georgia Secretary of State Securities and Charities Division have partnered to host a virtual outreach event focusing on recognizing and avoiding investment and consumer fraud. The event will take place on June 29, 2021, at 11:00 a.m. ET. {expires: 2021-06-30} Continue reading "SEC Regional Office, Other Agencies Collaborate..." »

In observance of the Juneteenth National Independence Day, and in treating that day as a federal holiday for filing purposes, the SEC has adjusted the dates of some filings submitted last week. The EDGAR system was closed on Friday, June 18, 2021 and resumed normal operations on Monday, June 21, 2021. Continue reading "SEC Adjusts Filing Dates in Accordance with..." »

On June 22, 2021, the SEC announced amendments to Volume I of the EDGAR Filer Manual pertaining to Section 4.b and the Manual Passphrase Update Request. These updates require filers who have misplaced their passphrase to provide certain supporting documentation indicating the connection between the individual(s) requesting access and the existing EDGAR account. They must also provide documentation indicating how the individual(s) requesting access connects to the individual(s) acting on that individual’s behalf. Continue reading "SEC Announces Adoption of the Passphrase Update..." »

On June 22, 2021, the SEC announced that the anticipated September 2021 update to the EDGAR system will introduce a pilot phase for filing Form 24F-2. The SEC recently adopted the requirement that filings on Form 24F-2 be submitted in a structured format, as stated in the Securities Offering Reform for Closed-End Investment Companies release. Continue reading "SEC Introduces Pilot Phase to Implement Final..." »

The compliance date for submitting filings using inline XBRL is fast approaching with filings due in August of this year for all non-accelerated and smaller reporting companies. To help this transition, Novaworks is presenting a free, three-part webinar series to help filers learn how to prepare inline XBRL using our patented XDX technology.

Continue reading "Novaworks to Host Free Webinars on Using..." »

XBRL US’ Data Quality Committee (DQC) will host a one-hour web conference for industry leaders to engage in discussions and plans to establish rules and guidance for public corporations complying with the SEC’s XBRL requirements. The webinar will take place on Tuesday, June 29, 2021 and will begin at 12:00 p.m. (ET). The event is free and open to the public but registration is required. {expires: 2021-06-30} Continue reading "XBRL US to Host Virtual Data Quality Committee..." »

Version 5.9a of all applications in the GoFiler Suite has been released. This release corresponds to EDGAR 21.2 and contains changes to Forms S-1, S-3, F-1, F-3 and their amendments, as well as changes to Form N-CEN and support for the IFRS 2021 taxonomy. It also contains numerous improvements to XDX View and inline XBRL.

Continue reading "New Release (5.9a) for the GoFiler Family of..." »

On June 21, 2021, EDGAR Release 21.2 was released by the Securities and Exchange Commission. This release included changes to Forms S-1, S-3, F-1 and F-3 to allow issuers of Exchange Traded Vehicle Securities to register an indeterminate number of securities and pay thefee for those securities on an annual basis. Changes were also made to Item C.7 and Part F on Form N-CEN and to add the IFRS 2021 Taxonomy.

Continue reading "SEC Releases EDGAR 21.2" »