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Tuesday, March 07. 2023

SEC Releases New Draft EDGAR Filer Manual for EDGAR 23.1

The SEC has announced that it has released its draft of the EDGAR® Filer Manual, Volume II: “EDGAR Filing” (Version 65). This draft Volume II of the EDGAR Filer Manual is accessible to filers in anticipation of feedback, and to help issuers prepare for potential modifications to the EDGAR system detailed in the draft and scheduled to be implemented in EDGAR Release 23.1 on March 20, 2023.


EDGAR Updates

On March 20, 2023, the following updates will be implemented with EDGAR Release 23.1:

  • Under final rules adopted in December 2022:
    1. the SEC approved Items 402(x) and 408 of Regulation S-K, and Item 16J of Form 20-F, with the requirement that forms be tagged in iXBRL
    2. the ECD taxonomy has been updated to address the new tagging requirements
    3. the release added Item 601(b)(19), which creates an exhibit for issuers to file a copy of their insider trading policies and procedures as new Exhibit 19 for submission types 10-K, 10-KT, 10-K/A and 10-KT/A
    4. Forms 4 and 5 have been updated to include a new checkbox to allow filers to identify whether the reported transaction was subject to a contract, instruction or written plan intended to meet the conditions of Rule 10b5-1(c)
  • Form 144 and 144/A will be added to the submission types that may be submitted, accepted, and disseminated until 10:00 p.m. ET. If an issuer submits a Form 144 on a business day between 6:00 a.m. and 10:00 p.m. ET, the filing date will be the date it is submitted.
  • EDGAR will be modified to support the 2023 versions of these taxonomies: US-GAAP, SRT (published by FASB) and CEF, COUNTRY, CURRENCY, DEI, ECD, EXCH, NAICS, RR, SIC, STPR, VIP (published by SEC). EDGAR will revise its presentation link validations for the CEF taxonomy and will no longer allow custom parent-child arcs with a CEF element as source or target only for Form N-2. The EDGAR Filer Manual has been updated to address software changes made previously in EDGAR.
  • In January 2023, EDGAR Release 22.4.1 introduced the new “Is this a de novo request?” radio button, which was added to the “Filer Information” page for form type 13F-CTR/A.

Should the SEC approve the final version of the EDGAR Filer Manual, it will be made available on the SEC’s website on or around March 20, 2023. The posting of the draft EDGAR Filer Manual does not indicate SEC approval of any proposed changes relating to the EDGAR system as reflected in the draft. “Non-rule”-based modifications outlined in the draft Volume II of the EDGAR Filer Manual will go into effect on March 20, 2023. For rule-based changes, refer to the effective dates of the related final rule on the SEC’s website.

A complete list of current taxonomies supported for the SEC’s Interactive Data programs is available on the Standard Taxonomies webpage at sec.gov. For general inquiries, contact Filer Support at (202) 551-8900 (choose Option 3).


Version 5.17c for the GoFiler Family of Products, which has already been released, supports most of these changes. We encourage customers to download the latest update to the software.


Source:

Current Draft for EDGAR Filer Manual Draft EDGAR Filer Manual (Volume II) EDGAR Filing (Version 65) (sec.gov)



Posted by
LeAnn Dey
in EDGAR News, SEC, SEC Filing Help, US GAAP Taxonomy at 15:16
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