On September 20th, the SEC adopted amendments to Rule 35d-1 under the Investment Company Names Rule of 2001 (Names Rule) to address certain broad categories of investment company names that may mislead investors about an investment company's investments and risks. For a business development company (BDC) or a registered investment company, the name of its firm is a key marketing tool for the fund, and it provides investors with decision-useful information about the fund. The amendments to the Names Rule, which were proposed in May 2022, are expected to help to ensure that the rule continues to meet its main objective of investor protection.

Continue reading "SEC Adopts Rule Improvements to Inhibit the Use..." »

On September 15th, the SEC announced that it has revised its list of unregistered entities that use inaccurate data to solicit mainly non-US investors. This update includes 29 soliciting entities, three impersonators of real firms, and one bogus regulator. Continue reading "SEC Revises PAUSE List of Firms Using..." »

On September 18, 2023, the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system was updated to Release 23.3. EDGAR now supports the Share Repurchase (SHR) taxonomy which provides the elements for tagging disclosures associated with the SEC’s final rule on Share Repurchase Disclosure Modernization. Continue reading "EDGAR Upgraded to Support 2023 Share Repurchase..." »

On September 18th, 2023, the SEC updated its EDGAR System to Release 23.3. This release includes the new SHR XBRL taxonomy, the new XML version of Form N-CR, and other important changes. Continue reading "EDGAR Release 23.3" »

The SEC’s Investor Advisory Committee will hold an open meeting via webcast on sec.gov that will take place on Thursday, September 21, 2023, at 10:00 a.m. ET. The meeting is free and open for the public to attend. It will cover committee matters, including topics pertaining to Regulation D and swing pricing. {expires: 2023-09-22} Continue reading "SEC Staff to Hold Investor Advisory Committee..." »

The Federal Energy Regulatory Commission’s (FERC) staff will hold its monthly open meeting via webcast on ferc.gov on Thursday, September 21, 2023, at 10:00 a.m. ET. The one-hour meeting is open for the public to attend.{expires: 2023-09-22} Continue reading "FERC to Hold Its Monthly Open Commission Meeting" »

The SEC’s EDGAR Business Office will host a webinar that will include an overview of the EDGAR Next proposing Beta and a presentation of the functionality contained in the potential technical updates to EDGAR. The webinar will take place on Tuesday, September 19, 2023, from 12:00 p.m. to 1:00 p.m. ET. The webinar is free and open for the public to attend. {expires: 2023-09-20} Continue reading "SEC’s EDGAR Business Office to Present Demo on..." »

On September 12th, the SEC released the Interactive Data Test Suite Update 67d-230901. Filers may view an overview of the updates by accessing the Change Log in the final section of the summary file. The SEC has made the public test suite available to assist filers who are using software to validate interactive data prior to its submission to the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. Continue reading "SEC Announces Interactive Data Test Suite..." »

The SEC has announced that it is proposing rule and form amendments to improve filer access and account management on the SEC’s Electronic Data Gathering, Analysis, and Retrieval system (EDGAR) connected to potential technical updates to EDGAR (collectively referred to as “EDGAR Next”). Continue reading "SEC Publishes Rule Proposal to Enhance EDGAR..." »

The SEC’s Division of Investment Management will hold an open meeting via webcast on sec.gov that will take place on Wednesday, September 20, 2023, at 10:00 a.m. ET. The meeting is free, open for the public to attend, and will address issues relating to misleading investment disclosures, among other topics. {expires: 2023-09-21} Continue reading "SEC’s Division of Investment Management to Hold..." »

On September 7th, the SEC’s Division of Corporation Finance indicated it may begin issuing comment letters to issuers concerning their XBRL disclosure documents. The Division has released a sample letter that a company may receive from the SEC once a company’s submitted filing is reviewed. The letter directs the issuer to revise or update their disclosure and respond to the SEC’s comments. Continue reading "SEC Publishes Sample Letter to Companies..." »

The SEC’s Small Business Capital Formation Advisory Committee will hold an open meeting via webcast on sec.gov to discuss matters concerning rules and regulations affecting small and emerging businesses and their investors under the federal securities laws. The meeting will take place on Tuesday, September 19, 2023, at 10:00 a.m. ET and is free and open for the public to attend. {expires: 2023-09-20} Continue reading "SEC’s Small Business Capital Formation Advisory..." »

The Financial Accounting Standards Board (FASB) staff has released proposed technical and other conforming enhancements for the 2024 SEC Reporting Taxonomy and the related release notes for public review and comment. The proposed taxonomy enhancements include new elements related to disclosures about share repurchase programs and insurance and modified references changes which comprise a range of topics as part of the FASB staff's ongoing efforts to maintain current references for all of the elements. Continue reading "FASB Publishes Technical and Other Improvements..." »

The SEC released drafts of the 2024 updates to its reporting taxonomies on September 7th, including updates within the annual review and update process for all SEC taxonomies accepted in the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. The Draft 2024 Release Notes provide more information related to specific changes in the 2024 update. Continue reading "SEC Publishes 2024 Draft Taxonomies" »

On September 6th, the SEC voted to approve an amendment to the National Market System Plan (NMS Plan) that regulates the Consolidated Audit Trail (CAT) (CAT NMS Plan). The amendment introduces an updated funding model (Executed Share Model) for the CAT and establishes a fee schedule for CAT fees for the self-regulatory organizations that are participants to the CAT NMS Plan under the Executed Share Model. Continue reading "SEC Adopts Funding Amendment to National Market..." »