The SEC reminds filers to confirm that internal links in their EDGAR filings are working properly before submitting the filings on the EDGAR system. Filers also should determine whether existing filings have broken internal links and fix those links. Continue reading "SEC Reminds Filers to Confirm Accurate Internal..." »

As of 9:30 a.m. ET on Thursday, March 21, 2024, the SEC has resolved the technical issues with its EDGAR System that involved some iXBRL filings. The EDGAR System is now operating normally. Continue reading "Updated: EDGAR Technical Difficulties with Some..." »

On March 18, 2024, the SEC upgraded the EDGAR system to Release 24.1. The system now supports the 2024 XBRL reporting taxonomies. The SEC does not anticipate the removal of the 2022 versions of any taxonomies to occur before June 2024. Continue reading "SEC Issues 2024 XBRL Taxonomies Update" »

The SEC recently adopted rules under the Securities Act and Securities Exchange Act that will make it mandatory for domestic and foreign registrants to include specific climate-related data in their annual reports and registration statements. The final rules will require information about a registrant’s climate-related risks that have materially impacted, or are reasonably likely to have a material impact on, its business strategy, results of operations, or financial condition. Continue reading "SEC Overview of Rules to Enhance and..." »

On March 6th, the SEC voted to adopt amendments to the disclosure requirements of Rule 605 of Regulation NMS for executions in national market system stocks (NMS stocks), which are stocks listed on a national securities exchange. Adopted in 2000, Rule 605 is intended to help the public compare and evaluate execution quality at different market centers. The SEC proposed the amendments in December 2022. Continue reading "SEC Adopts Amendments to Increase Transparency..." »

The SEC announced that its Division of Economic and Risk Analysis (DERA) reviewed certain Forms 10-Q and Forms 10-K filed in 2023 to determine whether filers’ cash flow statement data element presentation structure (such as parent and descendant relationship) is organized correctly. Cash flow statement presentation structure includes three parents: Net Cash Provided by or Used in the Operating Activities Abstract, Financing Activities Abstract, and Investing Activities Abstract. Continue reading "SEC Staff Reviews Cash Flow Statement Data..." »

On March 6th, the SEC announced that it is adopting amendments to its rules under the Securities Act and Securities Exchange Act that will make it mandatory for domestic and foreign registrants to include specific climate-related data in their annual reports and registration statements. The SEC initially proposed the rules in March 2022. The final rules will require information about a registrant’s climate-related risks that have materially impacted, or are reasonably likely to have a material impact on, its business strategy, results of operations, or financial condition. Continue reading "SEC Approves Amendments to Enhance and..." »

The SEC’s Division of Trading and Markets will hold an open meeting via webcast on sec.gov that will take place on Wednesday, March 6, 2024, at 9:45 a.m. ET. The meeting is free and open for the public to attend. During the meeting, SEC staff will consider climate-related disclosure requirements. Continue reading "SEC’s Division of Trading and Markets to..." »

On February 22nd, the SEC, in conjunction with the Office of Government Ethics, voted to adopt amendments to its ethics rules that are designed to both enhance and update its ethics compliance program. The amendments modernize the SEC’s current ethics requirements that govern the securities holdings and transactions of all agency employees, their spouses, and minor children. The amendments update the SEC’s Supplemental Ethics Rules, 5 CFR Part 4401.102, Supplemental Standards of Conduct for Members and Employees Securities and Exchange Commission. Continue reading "SEC Revises Ethics Rules Governing Securities..." »

The SEC’s Investor Advisory Committee will hold an open meeting via webcast on sec.gov on Thursday, March 7, 2024, at 10:00 a.m. ET. The meeting is free and open for the public to attend. It will feature two panels on equity market structure and materiality as a disclosure standard. {expires: 2024-03-08}
Continue reading "SEC Staff to Hold Investor Advisory Committee..." »

On January 24th, the SEC adopted rules to enhance investor protections in transactions related to special purpose acquisition companies (SPACs). The SEC also approved rules governing both shell company business combinations and disclosure of projections in SEC filings. An informational video that provides a high-level summary of the relevant policies is now available. Continue reading "SEC Overview of New SPACs Rules Available for..." »

On February 20th, the SEC reminded filers to confirm that internal links in their EDGAR filings are working properly before to submitting the filings on EDGAR. Electronic filers may include links to different sections within a single HTML document, such as, in exhibits filed under Item 601 of Regulation S–K. Filers should be mindful that incorrect internal links will result in errors surrounding those links when the filings are disseminated. Continue reading "SEC Reminds Filers to Confirm Accurate Internal..." »

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 Tuesday, February 27, 2024, at 10:00 a.m. ET. This meeting is free and open for the public to attend. {expires: 2024-02-28} Continue reading "SEC’s Staff to Discuss Accredited Investor..." »

The SEC has proposed a rule to update the dollar threshold for a fund to qualify as a “qualifying venture capital fund” for purposes of section 3(c)(1) of the Investment Company Act of 1940. Qualifying venture capital funds are not included in the Act’s definition of an “investment company.” The rule is intended to update the dollar threshold from the current standard of $10 million to $12 million aggregate capital contributions and uncalled committed capital. Under the Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018, the SEC is required to index the dollar figure for this threshold to inflation once every five years. Continue reading "SEC Proposes to Revise Definition of Qualifying..." »