The SEC, the Municipal Securities Rulemaking Board (MSRB), and Financial Industry Regulatory Authority (FINRA) jointly will host a virtual Compliance Outreach Program especially designed to help municipal market participants better understand their compliance obligations. Staff from each organization will address the current state of the examination, enforcement, and regulatory framework, and will discuss what lies ahead. The outreach event will take place on Thursday, December 7, 2023, from 10:30 a.m. – 4:30 p.m. ET. This webcast is free and open for the public to attend but registration is required. {expires: 2023-12-08} Continue reading "SEC, MSRB, FINRA to Co-Sponsor Compliance..." »

Both the SEC and the FERC will be closed Thursday, November 23rd in observance of Thanksgiving. The EDGAR System will not receive, process or accept filings on this day. Filings with a due date of November 23rd will be due the following business day. eForms will accept filings submitted on November 23rd. {expires: 2023-11-27} Continue reading "Thanksgiving" »

On November 16th, the FERC announced that the Form 1 taxonomy and related codesets have been revised to version 2023-11-17. The update is effective for the filing of fourth quarter 2023 forms. This update addresses errors in the taxonomy for the Energy Storage Operations (large plants) and Energy Storage Operations (small plants) schedules, and makes the required updates in the related codesets. New elements were created to distinguish the facts submitted on these two schedules. Continue reading "FERC Announces Latest eForms Refresh" »

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 Wednesday, November 29, 2023, at 10:00 a.m. ET and is free and open for the public to attend. {expires: 2023-11-30} Continue reading "SEC’s Small Business Capital Formation Advisory..." »

On November 14th, the SEC published the 2024 Peak Filing Volume Dates for EDGAR filings. To help filers avoid missing deadlines and to reduce online traffic around crucial filing dates, the SEC releases a filing schedule detailing when it expects to receive the highest volume of EDGAR filings. The 2024 Peak Filing schedule is now available on the SEC’s EDGAR Calendar webpage. Continue reading "SEC Releases 2024 Peak Filing Volume Dates for..." »

On November 14th, the SEC’s Division of Enforcement announced that in fiscal year 2023 it saw a number of significant enforcement actions that furthered its attempt both to protect investors and promote market integrity. Continue reading "SEC Releases Enforcement Results for Fiscal..." »

On November 2nd, the Financial Accounting Standards Board (FASB) staff released for public comment proposed improvements for references in the 2024 US GAAP Financial Reporting Taxonomy and the related release notes. As part of the FASB staff’s ongoing efforts to review the taxonomy references for further improvement, the proposed improvements would, among other things, add references to sections 45, 50, and S99 of certain accounting topics in the FASB’s Accounting Standards Codification. Continue reading "FASB Issues Improvements for 2024 US GAAP..." »

On November 7th, the SEC’s Division of Corporation Finance announced that it has implemented an intake system for Rule 14a-8 submissions and related correspondence. The Division receives requests from companies to provide informal, non-binding staff views concerning companies’ intentions to exclude shareholder proposals from their proxy statements under Exchange Act Rule 14a-8. Continue reading "SEC Introduces New Intake System for Rule 14a-8..." »

On November 3rd, the SEC’s Division of Economic and Risk Analysis (DERA) concluded its assessment of how filers label the elements used in tagging reported items on the income statement over multiple periods. Staff noted that some filers use various labels for the same element used to tag the same reported item on the income statement from one period to the next. This even occurred when the description of the reported item did not change. More specifically, filers used one label in a certain form (such as Form 10-Q) while using a different label for the same element in a different form (such as Form 10-K). For instance, the element “Revenue from Contract with Customer, Excluding Assessed Tax” should not use the label “Operating revenue” on Form 10-Q while using the label “Total operating revenue” on Form 10-K. Continue reading "SEC Releases Findings from Evaluation of..." »

The FERC staff will hold its monthly open meeting via webcast on ferc.gov on Thursday, November 16, 2023, at 10:00 a.m. ET. The one-hour meeting is open for the public to attend. {expires: 2023-11-17} Continue reading "FERC to Hold Its Monthly Open Commission Meeting" »

The SEC will be closed Friday, November 10th, in observance of Veterans Day. The EDGAR System will not receive, process, or accept filings on this day. Filings with a due date of November 10th will be due the following business day. The FERC will also be closed in observation of Veterans Day. eForms will accept filings submitted on November 10th. {expires: 2023-11-12} Continue reading "Veterans Day" »

On November 2nd, the SEC adopted Regulation SE under the Securities Exchange Act of 1934, which establishes the process for an entity to register with the SEC as a security-based swap (SBS) execution facility (collectively, SBSEF) and introduces a new form required for registration. The adopted regime is one of a number of major reforms required under Title VII of the Dodd-Frank Act, which is the legislation that improved transparency and oversight of the over-the-counter derivatives market by requiring the SEC to employ a regulatory framework for SBSs that requires the registration and regulation of SBSEFs. Continue reading "SEC Approves Rules to Reform Registration and..." »