On April 4th, the XBRL Standards Board announced that it approved the release of a second Public Working Draft (PWD) of the Table Constraints specification. The modular enhancement to the XBRL-CSV format is designed to enable highly efficient validation of business rules, particularly when working with large XBRL-CSV reports. By utilizing the tabular framework of XBRL-CSV, Table Constraints specification allows validations to be performed on a row-by-row basis, greatly improving processing speed. Continue reading "XBRL-CSV Validation Upgraded with New Table..." »

The Financial Accounting Standards Board (FASB) has released for public review and comment proposed GAAP Taxonomy Improvements for the proposed Accounting Standards Update (ASU) on Topic 818, Environmental Credits and Environmental Credit Obligations, along with related release notes. Continue reading "FASB Staff Releases Proposed GAAP Taxonomy..." »

In December 2024, the SEC published its 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 through December 23, 2029, when the provision requiring the report concludes. Continue reading "SEC Staff Issues Semi-Annual Report to Congress..." »

On February 5, 2024, the SEC implemented EDGAR Release 24.0.2, which includes changes to the filing cut-off times for Schedules 13D and 13G, as well as updates to Forms N-MFP3 and Form N-PX. Continue reading "SEC Announces EDGAR Release 24.0.2" »

On January 24th, the SEC adopted rules designed to strengthen investor protections in initial public offerings by special purpose acquisition companies (SPACs) and in subsequent business combination transactions among SPACs and private operating companies (de-SPAC transactions). These new rules include structured data reporting requirements. Continue reading "SEC Approves Rules to Improve Investor..." »

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:..." »