The Financial Accounting Standards Board (FASB) recently issued its 2021 Investor Outreach Report, which is now available through the FASB’s Investor Web Portal. The report details the investor outreach program, the program’s activities during the last year, and the ways the FASB intends to continue expanding on its goals to broaden investor outreach efforts. Continue reading "FASB Publishes 2021 Investor Outreach Report" »

Staff from the SEC’s Division of Economic and Risk Analysis (DERA) have published the trend of custom tag usage in XBRL submissions for financial reporting in accordance with International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP) from fiscal years 2018 through 2020. When the standard XBRL taxonomy does not provide an appropriate element to tag the disclosure, the SEC’s rules allow filers to create custom tags. This modification accommodates special circumstances in a filer’s particular disclosure, but the SEC has recognized that using custom tags could potentially decrease the comparability of inter-company data. For this reason, the SEC’s rules specify the limited circumstances under which a filer is permitted to create custom tags. Continue reading "SEC Releases Trend of Custom Tag Rates in XBRL..." »

The SEC has announced that revisions to the Interactive Data Test Suite have been made publicly accessible to assist filers in validating data before submitting it to EDGAR. For a summary of the updates, see the change log in the last section of the summary file. Continue reading "SEC Releases an Interactive Data Test Suite..." »

The SEC announced that an Application Programming Interface (API) is now available, giving developers fast and easy access to EDGAR data for corporate disclosures. The API includes XBRL data from financial statements (forms 10-Q, 10-K, 8-K, 20-F, 40-F, 6-K, and their variants) and real-time entity information and submission details in a JavaScript Object Notation format. Also, a bulk zip file to download all API data is updated nightly. Additional related information is available on the EDGAR Application Programming Interfaces documentation page. Continue reading "SEC Disclosure Data API Now Available" »

XBRL US’ Data Quality Committee (DQC) will host a virtual meeting for industry leaders to further engage in discussions and plans to establish rules and guidance for public corporations complying with the SEC’s XBRL requirements. The three-hour webinar will take place on Wednesday, September 29, 2021 and will begin at 9:00 a.m. ET. {expires: 2021-09-30} Continue reading "XBRL US to Host Data Quality Committee Web..." »

The Financial Accounting Standards Board (FASB) staff has issued the XBRL US Proposed DQC Rules Taxonomy (DQCRT) for the US GAAP and SEC reporting taxonomies. Also released is the accompanying Proposed Technical Guide. Both are available for public review and comment until September 23, 2021. {expires: 2021-09-24} Continue reading "FASB Releases Proposed DQC Rules Taxonomy and..." »

The SEC announced on September 1, 2021 that a draft 2021Q4 update and a draft 2022 update to the SEC taxonomies were issued for the public to review and submit comments. The draft 2021 release updates the Document and Entity Information (DEI) taxonomy and the Closed-End Fund (CEF), which is a new taxonomy resulting from the Securities Offering Reform for Closed-End Investment Companies Final Rule. The CEF taxonomy is currently available only in draft form and the proposed date for accepting the taxonomy in EDGAR is in December 2021. {expires: 2021-11-02} Continue reading "SEC Issues Draft 2021Q4 and Draft 2022..." »

In consultation with the US Department of Energy’s Pacific Northwest National Laboratory (PNNL), the staff of the FERC’s Office of Public Participation (OPP) will host a virtual seminar to discuss topics related to technical assistance and ways OPP can prioritize technical assistance for the public. The free event will be presented via webcast and takes place on Thursday, September 16, 2021, from 1:00 p.m. to 4:30 p.m. ET. {expires: 2021-09-27} Continue reading "FERC’s Office of Public Participation to Host..." »

The SEC has announced a virtual Investor Advisory Committee meeting that will take place on Thursday, September 9, from 10:00 a.m. until 3:30 p.m. EDT. The public may attend the free event, which will be presented live via webcast at sec.gov. {expires: 2021-09-10} Continue reading "SEC to Host Investor Advisory Committee Meeting" »

The SEC has announced that it will be carefully monitoring the impact and developments affecting investors and capital markets since Hurricane Ida made landfall on August 29, 2021. Continue reading "SEC Closely Observing Effects of Hurricane Ida..." »

The FERC has approved final modifications to its Data Collection for Analytics and Surveillance and Market-Based Rate Purposes proposal to collect further data from certain market-based sellers with ultimate upstream affiliates that have been given blanket authorization to procure the securities of those sellers or upstream affiliates of those sellers. The proposal includes certain updates to the data dictionary and XML schema that accompany the relational database introduced in Order No. 860. Continue reading "FERC Approves New Identifier Requirements" »

The SEC has announced that during fiscal year 2022, fees for public companies and other issuers paying to register their securities with the SEC will be fixed at $92.70 per million dollars. The SEC’s projections are calculated using a process developed in consultation with the Congressional Budget Office and the Office of Management and Budget. Continue reading "SEC Issues Fee Rate Advisory #1 for Fiscal Year..." »

The SEC has announced open data enhancements that not only facilitate innovation but also allow all market participants access to financial statements and other disclosures prepared by public companies on its Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. Continue reading "SEC Upgrades Accessibility to Financial..." »

The FERC has announced that it will host two virtual staff-led webinars regarding energy and ancillary services markets administered by Regional Transmission Organizations and Independent System Operators. {expires: 2021-10-13} Continue reading "FERC to Host Two-Part Technical Conference..." »

The SEC has submitted to the Federal Register a request for an extension of the current process for data collection of the Form S-1 (17 CFR 239.11), which is used by domestic issuers not eligible to use other forms to register a public offering of their securities under the Securities Act of 1933 (15 U.S.C. 77a et seq.). The data collected is intended to ensure that the information required to be filed by the SEC both allows confirmation of adherence to securities law requirements and assures that such information is accessible to the public. {expires: 2021-09-09} Continue reading "SEC Seeks Comment on S-1 Data Collection" »