On June 23rd, the SEC's Division of Economic and Risk Analysis adopted amendments to Rule 605 of the Securities Exchange Act, which requires disclosures for order executions in national market system (NMS) stocks. The SEC is releasing the draft report for review and comment. Continue reading "SEC Releases Draft of Order Execution Summary..." »

The SEC's Office of Structured Disclosure reminds the financial reporting community that Rule 405(e) of Regulation S-T provides guidance for tagging requirements for financial statement schedules, which includes a fund's Schedule of Investments (SOI), under rules 12-12, 12-13, 12-13A through 13D, and 12-14 of Regulation S-X. Accordingly, a Business Development Company (BDC) is required to tag its SOI in compliance with the tagging requirements in Rule 405(e) of Regulation S-T. Continue reading "SEC Publishes Guidance Regarding Incomplete and..." »

On June 17th, 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..." »

The SEC will host a roundtable to discuss executive compensation disclosure requirements with representatives from public companies, investors, and other experts in the field. The event is open for the public to attend via webcast on the SEC's website. The roundtable will take place on June 26, 2025, from 1:00 p.m. to 5:35 p.m. Continue reading "SEC Staff to Hold Roundtable on Executive..." »

The SEC recently provided reminders, tips and resources for filers who are preparing for compliance with EDGAR Next, the September 2024 rule and form amendments that enhance the security of the SEC's EDGAR system and improve filers' ability to access and manage accounts. EDGAR Next applies to all registrants who electronically submit filings on the EDGAR system. This includes entities such as issuers and filing agents as well as individuals, such as officers and directors subject to the requirements of Section 16 of the Securities Exchange Act. Continue reading "SEC Provides Guidance on Enrolling in EDGAR Next" »

On June 11th, the SEC and US Commodity Futures Trading Commission (CFTC) voted to extend the compliance date to October 1, 2025, for the amendments to Form PF that were adopted in February 2024 to enhance the Financial Stability Oversight Council's ability to monitor systemic risk and to improve the SEC's regulatory oversight of private fund advisers and investor protection efforts. The original compliance date for the rulemaking was March 12, 2025, but was previously extended to June 12, 2025. Continue reading "SEC Announces Further Extension of Form PF..." »

On June 16th, the EDGAR system was upgraded to Release 25.2, which now supports the 2025 version of the International Financial Reporting Standards (IFRS) taxonomy. The 2025 version of the IFRS taxonomy is the same taxonomy version that the International Accounting Standards Board made available on March 27, 2025. Continue reading "SEC Issues EDGAR 25.2 Release XBRL Taxonomies..." »

On June 2nd, the SEC's Division of Economic and Risk Analysis (DERA) published an analysis of custom tags used in XBRL filings submitted by issuers to comply with the 2009 Interactive Data tagging rules that require financial statement information to be reported in XBRL, a structured, machine-readable format. DERA observed trends in filers' use of custom tags in their XBRL exhibits submitted in Forms 10-K and 10-K/A using US GAAP for fiscal years 2022 through 2024. The analysis of these forms indicates a decrease in average custom tag rate for filings across all filer status, while the large accelerated filer category rate remained flat during that period. Continue reading "SEC Publishes US GAAP–XBRL Custom Tags Trend..." »

The SEC has announced that members of its staff will discuss whether to consider action relating to the compliance date for the amendments to Form PF, which is the confidential reporting form for certain SEC-registered investment advisers to private funds. This includes advisers also registered with the Commodity Futures Trading Commission as a commodity pool operator or commodity trading adviser. The meeting will take place on Wednesday, June 11, 2025, at 1:00 p.m. ET and is open for the public to attend via live webcast on sec.gov. {expires: 2025-06-12} Continue reading " SEC Staff to Discuss Revising Form PF..." »

The SEC has released its draft of the EDGAR® Filer Manual, Volume II: "EDGAR Filing" (Version 76) to prepare issuers for potential updates to the EDGAR system scheduled to be implemented in EDGAR Release 25.2.2 on September 15, 2025. The SEC also issues this draft of the EDGAR Filer Manual to solicit comment from the financial reporting community. Continue reading "SEC Issues Current Draft for Release 25.2.2 of..." »

The SEC has announced that it will host the roundtable, "DeFi and the American Spirit", on June 9th, from 1:00 p.m. to 5:00 p.m. ET. The roundtable panel will gather industry experts to discuss important matters concerning crypto asset regulation. The event, which will feature a town hall segment, is open for the public to attend via live broadcast on the SEC's website. {expires: 2025-06-10} Continue reading " SEC to Hold Crypto Task Force Roundtable: DeFi..." »