On August 15th, the SEC updated the EDGAR system to Release 22.2.2 which will now support the 2022Q3 supplemental US GAAP Financial Reporting Taxonomy and 2022Q3 supplemental SEC Reporting Taxonomy (SRT). The 2022Q3 supplements to the US GAAP Financial Reporting Taxonomy and SRT are comparable to supplements that the Financial Accounting Standards Board published on its website on August 2, 2022. Continue reading "SEC Announces XBRL Taxonomy Update" »

On May 20th, the SEC released its Draft of the EDGAR Filer Manual, Volume II: “EDGAR Filing” (Version 62). The SEC has not approved, may approve or disapprove, and may update any of the modifications within the draft. This draft Volume II of the EDGAR Filer Manual is made available to filers in anticipation of feedback and to help filers prepare for potential revisions to the EDGAR system detailed in the draft and scheduled to be implemented in EDGAR Release 22.2 on June 21, 2022. “Non-rule”-based modifications outlined in the draft will be effective June 21, 2022. For rule-based changes, refer to the effective dates of the associated final rule on sec.gov. Continue reading "SEC Publishes Draft EDGAR Filer Manual (Volume..." »

On May 24th, the SEC announced that the EDGAR system will be upgraded to Release 22.2 on June 21, 2022. 2020 versions of certain taxonomies will be removed, but all 2021 and 2022 versions of taxonomies will be available for use. The SEC reminds filers that they must use the same version year for all of the taxonomies in an EDGAR submission. Filers may not combine taxonomy versions from different years. Continue reading "SEC Announces Removal of 2020 Taxonomies" »

On March 21, 2022, EDGAR Release 22.1 was released by the SEC. The release included the addition of a new submission form type to EDGARLink Online, orders granting substituted compliance regarding Rule 18a-7, and a new exhibit “EX-99.36 Form 7-R” added to submission form types SBSE-A and SBSE-A/A. The release also updated the EDGAR Filer Manual Appendices B, F and D and made revisions to filing fee disclosure, payment methods, and tagging requirements for Forms N-3, N-4, and N-6 in iXBRL.
Continue reading "SEC Issues EDGAR 22.1" »

On March 21st, the SEC upgraded the EDGAR system to Release 22.1. The system now supports the 2022 reporting taxonomies, which are the final versions of the draft taxonomies that were posted by SEC staff for public comment on September 1, 2021. Refer to the final 2022 taxonomies’ Release Notes for details of the changes. Continue reading "SEC Releases 2022 XBRL Taxonomies Update" »

The SEC has announced that it is proposing new Rule 13f-2 and related Form SHO pursuant to the Securities Exchange Act of 1934. Section 13(f)(2) of the Exchange Act was added by Section 929X of the Dodd-Frank Wall Street Reform and Consumer Protection Act. These changes would provide greater transparency to investors and regulators through increasing the public availability of short sale related data by requiring certain institutional investment managers to report short sale related information. The SEC then would release aggregate data about large short positions, including daily short sale activity data, to the public for each individual security. Continue reading "SEC Announces Proposed Short Sale Disclosure..." »

The EDGAR Business Office (EBO) has announced that on March 1, 2022, it will temporarily suspend the use of the EDGAR beta environment (EDGAR Beta) for testing of EDGAR Next code and to deploy code for other testing purposes. At a future date, the EBO will announce the re-deployment of EDGAR Next code in EDGAR Beta to allow filers to test possible future EDGAR Next technical changes.

Continue reading " SEC Announces Temporary Pause to EDGAR Beta..." »

The SEC has announced that on or about April 4th, it will introduce a change to the EDGAR filing websites (EDGAR Link Online and Online Forms) that will affect the way certain third-party software may communicate with these websites. EDGAR will develop a unique parameter that some third-party software products may need to include in each request that enters/updates data. EDGAR will both verify the existence and validity of the parameter in filers’ requests and end user sessions if the value of the parameter is missing or mismatched. Continue reading "SEC Advises on Filing Agent/Filer Software..." »

In December 2021, the FASB released a proposed update to the US Generally Accepted Accounting Principles (GAAP) Financial Reporting Taxonomy (US GAAP GRT) related to a Proposed Accounting Standards Update (ASU) on Liabilities - Supplier Finance Programs (Subtopic 405-50). The proposed revisions to the taxonomy will include new elements and reference updates. Continue reading "FASB Publishes Proposed Revisions to Future..." »