Thursday, September 14. 2023
SEC’s EDGAR Business Office to Present Demo on EDGAR Next Beta
The SEC’s EDGAR Business Office will host a webinar that will include an overview of the EDGAR Next proposing Beta and a presentation of the functionality contained in the potential technical updates to EDGAR. The webinar will take place on Tuesday, September 19, 2023, from 12:00 p.m. to 1:00 p.m. ET. The webinar is free and open for the public to attend. {expires: 2023-09-20}
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SEC Publishes Rule Proposal to Enhance EDGAR Filer Access and Account Management, Announces Beta Testing
The SEC has announced that it is proposing rule and form amendments to improve filer access and account management on the SEC’s Electronic Data Gathering, Analysis, and Retrieval system (EDGAR) connected to potential technical updates to EDGAR (collectively referred to as “EDGAR Next”).
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SEC Publishes Sample Letter to Companies Regarding XBRL Disclosures
On September 7th, the SEC’s Division of Corporation Finance indicated it may begin issuing comment letters to issuers concerning their XBRL disclosure documents. The Division has released a sample letter that a company may receive from the SEC once a company’s submitted filing is reviewed. The letter directs the issuer to revise or update their disclosure and respond to the SEC’s comments.
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Monday, September 11. 2023
Enhanced Reporting of Proxy Votes Form N-PX
Changes to Form N-PX were finalized by the SEC on July 23, 2014, and will become effective on July 1, 2024. The changes to Form N-PX include a major modernization in how the form will be reported to the SEC. After July 1, 2024, managers and funds will be required to file their first reports on amended Form N-PX by August 31, 2024 (with these reports covering the period of July 1, 2023, to June 30, 2024) in a structured XML format.
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Form N-PX Now Available on GoFiler Online
GoFiler Online has been updated to version 2.10a, which includes the new XML format of Form N-PX. Changes to Form N-PX will become effective on July 1, 2024 and include a major modernization in how the form will be reported to the SEC. Users can preview and test the new form at www.gofiler.online.
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FASB Publishes Technical and Other Improvements for 2024 SEC Reporting Taxonomy
The Financial Accounting Standards Board (FASB) staff has released proposed technical and other conforming enhancements for the 2024 SEC Reporting Taxonomy and the related release notes for public review and comment. The proposed taxonomy enhancements include new elements related to disclosures about share repurchase programs and insurance and modified references changes which comprise a range of topics as part of the FASB staff's ongoing efforts to maintain current references for all of the elements.
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Tuesday, September 05. 2023
SEC Provides Filers Opportunity to Participate in EDGAR Filing Fee Beta
The SEC staff has announced the upcoming EDGAR Filing Fee Beta, which will be open from October 2, 2023 through December 22, 2023. All filers (including accelerated filers) are invited to participate in this Beta, which will allow filers to test the technical and structured data features of the Filing Fee Disclosure and Payment Methods Modernization rule. The Filing Fee Beta environment also will give filers the opportunity to construct structured filing fee-related information using the new Fee Exhibit Preparation Tool that includes features including prompts, explanations, and automated calculations to produce a filing fee exhibit (EX-Filing Fees) in submission-ready format.
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Tuesday, August 01. 2023
SEC Adopts Rules on Public Company Cybersecurity Disclosures
The SEC has announced that it is adopting rule amendments to improve and standardize disclosures for cybersecurity risk management, strategy, governance, and incidents by public companies subject to the reporting requirements of the Securities Exchange Act of 1934. In particular, the SEC is adopting rules and rule amendments that will require current disclosure about material cybersecurity incidents.
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Wednesday, July 19. 2023
SEC Issues Draft 2023 Share Repurchase (SHR) Taxonomy
On July 17th, the SEC announced that it has released a draft version of the Shareholder Repurchase (SHR) XBRL Taxonomy and accompanying taxonomy guide. In May 2023, the SEC approved amendments to its rules to update and enhance transparency concerning repurchases of an issuers equity securities registered under the Securities Exchange Act of 1934.
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EDGAR Release 23.2.1
On July 17, 2023, the SEC announced that it updated SEC.gov stylesheets for Forms 4 and 5, which will be implemented with EDGAR Release 23.2.1. More specifically, the checkbox introduced in Release 23.1—to allow filers to determine whether the reported transaction was subject to a contract, instruction or written plan intended to meet the conditions of Rule 10b5-1(c)—has been moved from above Table 1 to the upper left corner of the stylesheet. There have been no new changes made to Forms 4 and 5.
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Monday, July 03. 2023
SEC Offers Guidance Regarding Correct Usage of Operating Activities Presentation Child Elements Tags for Investing Activities and Financing Activities as Presentation Parent Elements
The SEC's Division of Economic and Risk Analysis (DERA) has observed that filers are using tags associated with accrual items related to operating activities as presentation child elements on certain Forms 10-K and 10-Q and has offered guidance to more correctly tag these items.
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Tuesday, June 20. 2023
SEC Announces EDGAR BETA Testing for Filing Fee Modernization Rule
On June 16th, the SEC announced that it will offer an EDGAR Filing Fee Beta that will allow filers and filing agents to test the technical and structured data components of the Filing Fee Disclosure and Payment Methods Modernization final rule, which was adopted in October 2021.
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Tuesday, May 09. 2023
SEC Releases Draft 2023 Open-End Fund Taxonomy
On May 4th, the SEC adopted amendments to its current rules and forms that will require open-end management investment companies to provide annual and semiannual reports to shareholders that are both concise and visually engaging and that highlight key information for retail investors to assess and monitor their fund investments. More information is available in the SEC’s October 2022 final rule, Tailored Shareholder Reports for Mutual Funds and Exchange-Traded Funds; Fee Information in Investment Company Advertisements.
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Wednesday, May 03. 2023
SEC Reopens Comment Period for Modernization of Beneficial Ownership Reporting Proposal
On April 28th, the SEC reopened the comment period for its February 2022 proposal, Modernization of Beneficial Ownership Reporting. The agency also announced that its Division of Economic and Risk Analysis (DERA) released a memorandum that provides supplemental data and analysis related to the proposed amendments’ economic effects. The proposal would amend certain rules that govern beneficial ownership reporting under Exchange Act Sections 13D and 13G, which would enhance disclosure requirements, reduce information imbalances, and provide more timely information to meet the needs of investors and the market.
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Tuesday, May 02. 2023
SEC Provides Updated Market Structure Metrics
On May 2nd, the SEC’s Market Structure staff released updated metrics on its webpage. The SEC created the Market Structure webpage on sec.gov to promote better understanding of equity markets and equity market structure through the use of data and analytics.
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