Wednesday, June 07. 2023
SEC Announces Form N-CEN Data Sets Available for Download
On June 2nd, the SEC announced that Form N-CEN Data Sets are now available for download. Form N-CEN is used by all registered investment companies to file annual reports with the SEC, with the exception of face-amount certificate companies. The Form N-CEN Data Sets are extracted from the eXtensible Markup Language (XML) Form N-CEN submissions. The data is displayed without change from the “as-filed” submissions and in a flattened format to provide readily available data from registrants.
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Thursday, November 03. 2022
SEC Releases New Draft ECD Taxonomy and Guide
The SEC recently adopted amendments that will require an exchange-listed issuer to adopt a compensation recovery policy required by Rule 10D-1 of the Securities Exchange Act. The issuer must also disclose information about the application of its Rule 10D-1 compensation recovery policy and any recovery pursuant to such policy. This disclosure must be submitted in Inline XBRL.
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Saturday, September 10. 2022
SEC Publishes Insider Transactions Data Sets
On September 2nd, the SEC announced that the Insider Transactions Data Sets are available for download on sec.gov. Under Section 16 of the Securities Exchange Act of 1934, senior executives, directors, and 10%+ shareholders (also referred to as insiders) must make initial and ongoing filings pertaining to their company stock holdings. This also includes the requirement that insiders report most of their transactions in the company’s stock.
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Tuesday, August 09. 2022
SEC Announces Public Availability of Form 13F Data Sets
On August 2nd, the SEC announced that the Form 13F Data Sets are now available for download. The Form 13F Data Sets provide the securities holding information required of institutional investment managers under Section 13(f) of the Securities Exchange Act of 1934. The securities holding information is also made accessible to the public in structured Form 13F filings with the SEC. The data is extracted from the XML-based section of public Form 13F submissions made in the SEC’s EDGAR system.
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Monday, February 14. 2022
SEC Provides Guidance Regarding Proper Tagging for Finance Lease Liability, Future Payments, and Excess Amount of the Future Payments Over the Finance Lease Liability
The SEC’s Division of Economic and Risk Analysis (DERA) has observed that some filers are not appropriately tagging disclosures about their finance lease liability, undiscounted future lease payments, and the excess amount of the undiscounted future lease payments over the finance lease liability (for example, imputed interest). DERA is providing guidance to filers to address some of this mistakes.
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Friday, October 15. 2021
SEC Advises Filers on Inappropriate Use of Custom Tags for Operating Lease Right-of-Use Asset Amortization
The SEC’s Division of Economic and Risk Analysis (DERA) recently released an announcement reminding filers to use the standard elements provided in the Generally Accepted Accounting Principles (GAAP) taxonomy to tag data rather than create and use custom tags. The SEC has recognized that, though custom tags accommodate unique conditions in a filer’s individual disclosure, the use of custom tags could potentially impair users’ ability to compare similar data across companies.
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Tuesday, September 14. 2021
SEC Releases Trend of Custom Tag Rates in XBRL Submissions from Fiscal Years 2018 to 2020
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.
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Wednesday, September 08. 2021
SEC Issues Draft 2021Q4 and Draft 2022 Taxonomies Update
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}
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Wednesday, May 26. 2021
DERA Brings Attention to Incorrect Use of Continuing Operations Elements in the Statement of Cash Flows
The staff of the SEC’s Division of Economic and Risk Analysis (DERA) has discovered that certain filers who report under US Generally Accepted Accounting Principles are using elements for the Statement of Cash Flows that are intended explicitly for continuing operations. These filers do not actually report continuing and discontinued operations separately and should be using general elements to tag each respective subtotal for operating, investing, and financing activities.
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Tuesday, December 22. 2020
SEC Announces the Creation of the Security-Based Swaps Joint Venture
The SEC announced on December 18, 2020 that it is creating a new collaborative venture called the Security-Based Swaps (SBS) Joint Venture. This venture joins several SEC divisions and offices and will be responsible for coordinating functions related to the regulation of security-based swaps and oversight of certain entities that will be required to register with the SEC (SBS entities). The SBS Joint Venture will be an important part of the SEC’s efforts to oversee the SBS market and better monitor SBS transaction data.
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Friday, November 20. 2020
SEC Releases Guidance on Scaling Errors in XBRL Filings
On November 19th, the SEC released an announcement concerning scaling errors between Entity Common Stock Shares Outstanding and Common Stock Shares Outstanding in XBRL filings. In certain periodic reports, filers must disclose the number of common shares outstanding on the filing cover page and on the balance sheet. These amounts must be tagged in XBRL submissions with the “Entity Common Stock Shares Outstanding” and “Common Stock Shares Outstanding” elements, respectively.
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Friday, November 13. 2020
SEC Creates New Office of Data Science and Innovation
On November 12th, the SEC announced it is creating a new Office of Data Science and Innovation as part of its Division of Economic and Risk Analysis (DERA). DERA offers impartial quantitative and qualitative economic analyses, accurate and reliable data, and insights from scientific research that aids in SEC’s rulemaking, enforcement, and examination operations.
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Thursday, September 24. 2020
SEC Releases Observations on Form 8-K Document Period End Date
On September 23rd, the SEC’s staff of the Division of Economic and Risk Analysis (DERA) issued some information concerning Form 8-K and the Document Period End Date. DERA observed that some filers have designated the filing date of Form 8-K in XBRL and Inline XBRL submissions as the Document Period End Date. Other filers, however, have used the filing date from a previously submitted Form 8-K or a date that is unrelated to the reported event.
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Thursday, July 30. 2020
IFRS Trend Analysis 2019
The SEC’s Division of Economic and Risk Analysis (DERA) recently released its analysis of custom tag usage in financial filings submitted to the SEC. The analysis covered XBRL financial data submitted with Forms 20-F, 20-F/A, 40-F and 40-F/A from January 2017 to December 2019 by filers preparing their reports using International Financial Reporting Standards (IFRS), which is issued by the International Accounting Standards Board. The analysis focused on trends in filers’ use of custom tags in their XBRL financial data for these forms during the last three years in two categories: 1) Financial statements (F/S) only and 2) F/S and notes.
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Posted by The Novaworks Team
in DERA, Filing Technology, IFRS Taxonomy, SEC Filing Help, XBRL
at
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Wednesday, July 22. 2020
US GAAP Trend Analysis 2019
The SEC’s Division of Economic and Risk Analysis (DERA) recently released its analysis of custom tag usage in financial filings submitted to the SEC using the US GAAP financial reporting taxonomy. This analysis focuses on XBRL exhibits submitted by issuers complying with the 2009 Interactive Data rules pertaining to financial statements. The study covered exhibits submitted as part of Forms 10-K and 10-K/A filings from January 2017 to December 2019.
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Continue reading "US GAAP Trend Analysis 2019" »
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