On Thursday, May 30th, the SEC reminded issuers that, under US Generally Accepted Accounting Principles (GAAP), certain entities must provide basic and diluted earnings per share (EPS) with equal prominence on the face of the income statement for each period presented in their annual and interim reports. For filings in which basic and diluted EPS have the same value and are presented only once on the face of the income statement, an entity should tag that amount twice using both tags. Continue reading "SEC Provides Guidance Related to Incorrect..." »

The SEC issued a draft version of the security-based swap (SBS) XBRL taxonomy in March 2024 that will be used by security-based swap execution facilities (SBSEFs) to file specified information electronically with the SEC using the EDGAR system in Inline XBRL. The agency has now released to the public sample documents to aid preparers in implementing the taxonomy. Continue reading "SEC Releases Draft 2024 Security-Based Swap..." »

The SEC’s Investor Advisory Committee will hold an open meeting via webcast on sec.gov that will take place on Thursday, June 6, 2024 at 10:00 a.m. ET. The meeting is free and open for the public to attend. The meeting will cover committee matters, including subcommittee reports and approval of previous meeting minutes. {expires: 2024-06-07} Continue reading "SEC Staff to Hold Investor Advisory Committee..." »

The SEC will be closed Monday, May 27th in observance of Memorial Day. The EDGAR System will not receive, process or accept filings on this day. Filings with a due date of May 27th will be due the following business day. The FERC will also be closed in observation of Memorial Day. eForms will accept filings submitted on May 27th. {expires: 2024-05-28} Continue reading "Memorial Day" »

The SEC has announced that it has adopted enhancements to Regulation S-P, the regulation protecting the privacy of consumer financial information. Accepted on May 16th, the changes will require covered institutions (broker-dealers, investment companies, registered investment advisers, and transfer agents) to keep affected individuals apprised of certain types of data breaches that may put them at risk. Continue reading "SEC Approves Revisions to Regulation S-P to..." »

On May 15th, the SEC’s Division of Investment Management Analytics Office issued a new report of Investment Adviser Statistics, which is based on compiled data filed by investment advisers on Form ADV, the form used by investment advisers to register with both the SEC and state securities authorities. The publication, which shows trends over time, will be updated annually. It is designed to provide the public with insight into the investment advisory industry as well as areas such as client composition, business activities, and the types of funds advised. Continue reading "SEC Staff Releases Latest Investment Adviser..." »

On May 13th, the SEC, in conjunction with the US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), proposed new rulemaking under which SEC-registered investment advisers (RIAs) and exempt reporting advisers (ERAs) would be required to establish, document, and maintain written customer identification programs (CIPs) appropriate for their respective sizes and businesses. The new rule is intended to prevent illicit finance activity concerning the customers of investment advisers by enhancing the anti-money laundering and countering the financing of terrorism (AML/CFT) framework for the investment adviser sector. Continue reading "SEC, FinCEN Propose Customer Identification..." »

The SEC’s Division of Investment Management Analytics Office has released a new report of Registered Fund Statistics, which will provide significant industry data and information on trends over time. The report is based on compiled data reported on Form N-PORT by funds registered with the SEC and designed for a wide range of users. The new report is intended to provide the public with a consistent and comprehensive view into the registered funds industry, which is comprised of more than 12,000 funds and greater than $26 trillion in total net assets under management. The Division will update this report quarterly. Continue reading "SEC Staff Issues New Report of Registered Fund..." »

The SEC’s Division of Examinations has released a Risk Alert, sharing initial observations from examinations of investment advisers’ compliance with the Marketing Rule, on which the Division will continue to place emphasis. Continue reading "SEC Issues Risk Alert Regarding Advisers Act..." »

The SEC’s Division of Investment Management has announced its second annual Conference on Emerging Trends in Asset Management, which will bring together academics, asset management industry participants, and regulators. The remote conference will take place on Thursday, May 16, 2024, from 9:00 a.m. to 5:00 p.m. ET. The event is free and open to the public via live webcast on sec.gov. Registration for the conference will be open through Tuesday, May 14, 2024. {expires: 2024-05-17} Continue reading "SEC to Hold Second Annual Conference on..." »

On April 17th, the SEC announced that, effective May 22, 2024, fee rates applicable to most securities transactions will be set at $27.80 per million dollars. The assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction. These adjustments do not directly affect the amount of funding available to the SEC. Continue reading "SEC Issues Second Fee Rate Advisory for Fiscal..." »

XBRL US will host a virtual conference to discuss the SEC’s final rule for Tailored Shareholder Reports for Mutual Funds and Exchange-Traded Funds; Fee Information in Investment Company Advertisements. The rule introduces new requirements for annual and semi-annual shareholder reports provided by mutual funds and exchange-traded funds to highlight key information for shareholders. Under the rule, funds are required to tag their reports to shareholders using Inline XBRL, which yields machine-readable data that retail investors and other market participants may use to access and evaluate investments more efficiently. {expires: 2024-05-16} Continue reading "XBRL US Announces Webinar: SEC Rule – Tailored..." »

The SEC’s Small Business Capital Formation Advisory Committee will hold an open meeting via webcast on sec.gov to discuss matters concerning rules and regulations affecting small and emerging businesses and their investors under the federal securities laws. The meeting will take place on Monday, May 6, 2024, at 10:00 a.m. ET. This meeting is free and open for the public to attend. {expires: 2024-05-07} Continue reading "SEC’s Small Business Capital Formation Advisory..." »

The SEC’s Office of the Advocate for Small Business Capital Formation is hosting the 43rd Annual Government-Business Forum on Small Business Capital Formation. The forum is an event for members of the public and private sectors to gather and discuss capital raising and develop suggestions for policy impacting emerging businesses and their investors. The remote meeting will take place April 16-18, with each session beginning at 1:00 p.m. ET each day and lasting 90 minutes. Continue reading "SEC to Hold 43rd Annual Small Business Forum" »