On September 27th, the SEC adopted rule and form amendments to streamline connections to and enhance the security of the EDGAR system while improving a filer’s access and ability to manage their EDGAR accounts. These revisions are related to certain technical updates to the EDGAR system, which are commonly referred to as EDGAR Next. Continue reading "SEC Adopts Rules to Improve EDGAR System, Opens..." »

On September 24th, the SEC’s Division of Economic and Risk Analysis (DERA) announced that it had concluded an assessment of how filers are tagging provision (benefit) for credit losses on income statements. Staff performed the assessment on Forms 10-K and 10-Q that have one or more custom tags for tagging the provision (benefit) for credit losses section of the income statement. Continue reading "SEC Provides Guidance for Proper Use of Custom..." »

On September 18th, the SEC published the draft of the 2025 updates to its reporting taxonomies, including updates within the annual review and update process for all SEC taxonomies accepted in the EDGAR system. The Draft 2025 Release Notes provide more information related to specific changes in the 2025 update. Continue reading "SEC Publishes 2025 Draft Taxonomies for Review..." »

The SEC recently adopted rules to amend Form N-4, the form currently used by most variable annuity separate accounts. As part of these changes, the registration, filing, and data transparency requirements that were adopted for registered index-linked annuities (RILAs) offerings have been broadened to the offerings of registered market value adjustment annuities (registered MVA annuities). Now the new elements needed to tag this information have been included in the VIP taxonomy because RILAs and registered MVA annuities are insurance products whose offerings are registered on Form N-4. Continue reading "SEC Publishes Draft of Updated 2024 Variable..." »

On August 28th, the SEC adopted rules to amend reporting requirements on Form N-PORT that would offer the SEC and investors with greater and more timely information about certain registered investment companies (funds). Form N-PORT reports provide the SEC and the public with important information about a fund’s portfolio holdings and related information to help evaluate a fund’s risks. These reports also promote efficacy in regulatory monitoring and oversight of the fund industry, which benefits fund investors. Continue reading "SEC Adopts Reporting Enhancements for Funds,..." »

On July 29th, the SEC announced that Form N-PORT Data Sets are now available for download. Form N-PORT is used by registered investment companies (apart from money market funds and exchange-traded funds organized as unit investment trusts) to report monthly portfolio holdings. The Form N-PORT Data Sets are extracted from the eXtensible Markup Language (XML) Form N-PORT-P submissions. The data is displayed unchanged from the “as-filed” submissions and in a flattened format to provide the public with easily accessible data from registrants. The data sets include only publicly available information from filings that have been disseminated by the SEC. Continue reading "SEC Releases Form N-PORT Data Sets for Download" »

The SEC, the Municipal Securities Rulemaking Board (MSRB), and Financial Industry Regulatory Authority (FINRA) have announced that registration is now open for the Compliance Outreach Program, an event the agencies will host together in November in Denver, Colorado. The program is designed specifically to familiarize municipal market participants, including municipal advisors and broker-dealers, with their compliance obligations. Continue reading "SEC, MSRB, FINRA to Co-Sponsor Compliance..." »

The SEC has announced that it is adopting amendments to Volume II of the EDGAR Filer Manual, Version 70, and its related rules and forms. EDGAR Release 24.2 was deployed in the EDGAR system on July 1, 2024. Continue reading "SEC Adopts Updated EDGAR Filer Manual" »

The SEC has recently adopted tailored disclosure requirements and offering processes for registered index-linked annuities (RILAs) and registered market value adjustment annuities (registered MVA annuities, and collectively with RILAs, nonvariable annuities). These new requirements include structured data disclosure mandates for Form N-4. Continue reading "SEC Adopts Tailored Registration Form for..." »

The SEC has informed filers that they now may find revised information regarding technical and structured data aspects of the Filing Fee Disclosure and Payment Methods Modernization rule on the EDGAR Filing Fees webpage. Continue reading "SEC Announces Filing Fee Exhibit Updates for..." »

The SEC has announced that it has released its draft of the EDGAR® Filer Manual, Volume II: “EDGAR Filing” (Version 70 ) to help issuers prepare for potential updates to the EDGAR system detailed in the draft and scheduled to be introduced in EDGAR Release 24.2 on July 1, 2024. Continue reading "SEC Releases Current Draft EDGAR Filer Manual" »

Join us at GovFin 2024! XBRL US, in conjunction with PricewaterhouseCoopers, will host this conference to discuss how the Financial Data Transparency Act (FDTA) can improve municipal bond issuer reporting and other disclosures with data submissions in structured, machine-readable format. The event, which takes place July 29th and 30th in New York City, will feature presentations that address how the FDTA will impact governments, municipal analysts and portfolio managers, data and analytics tool providers, and regulators. Novaworks is a sponsor of this event, and our staff will be on hand to answer questions and provide information. Continue reading "Register Now for GovFin 2024" »

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..." »