The SEC has announced that the EDGAR Filing Fee Beta will open on Wednesday, October 4, 2023, instead of Monday, October 2, 2023 as previously scheduled. Continue reading "SEC Updates Filing Fee Beta Opening Date" »

The SEC staff has announced the upcoming EDGAR Filing Fee Beta, which will be open from October 2, 2023 through December 22, 2023. All filers (including accelerated filers) are invited to participate in this Beta, which will allow filers to test the technical and structured data features of the Filing Fee Disclosure and Payment Methods Modernization rule. The Filing Fee Beta environment also will give filers the opportunity to construct structured filing fee-related information using the new Fee Exhibit Preparation Tool that includes features including prompts, explanations, and automated calculations to produce a filing fee exhibit (EX-Filing Fees) in submission-ready format. Continue reading "SEC Provides Filers Opportunity to Participate..." »

On July 17th, the SEC announced that its staff has issued its first semi-annual report to Congress concerning the public and internal use of machine-readable data for corporate disclosures. Continue reading "SEC Staff Issues First Semi-Annual Report to..." »

In June 2023, the SEC published its first required semi-annual report to Congress regarding public and internal use of machine-readable data for corporate disclosures, in compliance with the Financial Data Transparency Act of 2022 (FDTA) signed into law on December 23, 2022. The FDTA requires the SEC to submit this report to both the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives every 180 days until December 23, 2029, when the provision requiring the report concludes. Continue reading "SEC Submits Report to Congress on Public and..." »

On December 8th, the SEC announced that its Interactive Data Test Suite has been updated. The test suite provides help to filers using software to validate Interactive Data, ensuring the timely identification and resolution of potential errors before submission to EDGAR. To view a summary of the twelve revisions made in this update, see the change log in the last section of the summary file. Continue reading "SEC Releases Interactive Data Test Suite Update" »

The SEC has adopted rules and form amendments to require the electronic filing or submission of certain documents that currently are permitted to be filed or submitted in paper as well as the use of Inline XBRL for the filing of the financial statements and associated schedules to the financial statements required by Form 11-K. Continue reading "SEC Announces Approved Updates to Electronic..." »

XBRL US has announced that it will host the second of two virtual seminars to familiarize investment management filers with the new SEC XBRL requirements under the SEC’s final rule, Securities Offering Reform for Closed-End Investment Companies, which will be effective August 1, 2022. The event will take place on Tuesday, June 7, 2022, from 3:00 p.m. to 4:00 p.m. ET. {expires: 2022-06-08} Continue reading "XBRL US to Host Second Webinar in Series:..." »

On March 21st, the SEC announced that it is proposing amendments to its rules under the Securities Act and Securities Exchange Act that would make it mandatory for domestic and foreign registrants to include specific climate-related data in their annual reports and registration statements. This data would need to be disclosed in a structured data format. The proposal is open for public comment. Continue reading "SEC Proposes Rule Amendments to Improve..." »

The Financial Accounting Standards Board (FASB) has announced that it will host a webcast designed to provide participants with greater knowledge of how enhancements in the 2022 GAAP Financial Reporting Taxonomy (including those related to recently implemented FASB Accounting Standards Updates) will affect registrant XBRL filings. The event will take place on Tuesday, April 5, 2022 from 1:00 p.m. to 2:30 p.m. ET and will be presented live via webcast on fasb.org. {expires: 2022-04-06} Continue reading "FASB to Host Webinar: 2022 GAAP and SEC..." »

On March 3rd, the SEC announced that it is requesting feedback on interactive data collection. Issuers filing registration statements under the Securities Act of 1933 and reports under the Securities Exchange Act of 1934 are required to submit specified financial information to the SEC and post it on their corporate websites in an interactive data format using XBRL. The interactive data requirement is designed to simplify investors’ ability to evaluate financial information and to help issuers automate regulatory filings and business information processing. The SEC is seeking feedback on the burden of these requirements, as well as the quality of the interactive data itself. Continue reading "SEC Extends Interactive Data Rule, Seeks Comment" »

XBRL US’ Data Quality Committee (DQC) will host a virtual Q&A-style discussion with the SEC on Filing Fee Disclosures and Payment Methods Modernization, the final rule which comprises new requirements that will impact many reporting entities and SEC submissions. Speakers from the SEC’s Office of Financial Management and its Division of Corporate Finance will cover topics related to disclosure, technical and general issues pertaining to the rule. The webinar will take place on Tuesday, March 22, from 3:00 p.m. to 4:00 p.m. ET and will be moderated by Scott Theis, chairman of the XBRL US Domain Steering Committee and Novaworks’ President. {expires: 2022-03-23} Continue reading "XBRL US to Host Webinar with SEC to Discuss..." »