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. Continue reading "EDGAR Release 23.2.1" »

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. Continue reading "SEC Offers Guidance Regarding Correct Usage of..." »

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. Continue reading "SEC Announces EDGAR BETA Testing for Filing Fee..." »

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. Continue reading "SEC Releases Draft 2023 Open-End Fund Taxonomy" »

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.
Continue reading "SEC Reopens Comment Period for Modernization of..." »

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. Continue reading "SEC Provides Updated Market Structure Metrics" »

On March 22nd, the SEC proposed rules and amendments that would require the electronic filing, submission, or posting of certain forms, filings, and other materials required under the Securities Exchange Act. These amendments are intended to enhance the SEC’s collection and analysis of this data by proposing that a number of these forms and other materials be submitted electronically to the SEC via the SEC’s EDGAR system using structured data. Continue reading "SEC Proposes to Revise the Submission of..." »

On March 20th, the SEC’s Office of Municipal Securities updated its Registration of Municipal Advisors Frequently Asked Questions webpage to add a section, entitled Completion of Form MA, Form MA-I, and Form MA-NR. The addition is designed to enhance transparency and efficacy within the municipal advisor registration process and provide increased clarity to registrants. Continue reading "SEC Office of Municipal Securities Publishes..." »

The Financial Accounting Standards Board (FASB) will host a webinar to discuss improvements made to both the 2023 GAAP Financial Reporting Taxonomy for recently published FASB Accounting Standards Updates and the 2023 SEC Reporting Taxonomy (SRT). The improvements made were based on the 2023 Taxonomy Releases, which included compiled feedback and internal analysis. The 90-minute webinar will take place on Tuesday, April 11, 2023 and will begin at 1:00 p.m. ET. {expires: 2023-04-12} Continue reading "FASB to Host Webinar on 2023 GAAP/SRT and..." »

The SEC has announced that EDGAR 23.1 will occur on March 20, 2023.
Continue reading "EDGAR Release 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. Continue reading "SEC Releases New Draft EDGAR Filer Manual for..." »

On March 1st, the SEC announced that it has determined that a mid-year adjustment to the Section 31 fee rate for fiscal year 2023 is not required. The fee rates that apply to most securities transactions will remain at the current rate of $8.00 per million (as previously announced in January 2023). The rate will remain in place until September 30, 2023 or 60 days following the passing of a regular FY 2024 appropriation, whichever is later. Additionally, the Section 31 assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction. Continue reading "SEC Issues Fee Rate Advisory #3 For Fiscal Year..." »

On February 21st, the SEC announced that it is adopting an amendment to Regulation S-T to extend the filing deadline for Form 144. The SEC is also adopting technical amendments to improve the consistency of recently updated provisions related to the filing format of Form 144. Continue reading "SEC Approves Final Rules to Extend Form 144..." »

The SEC’s Division of Corporation Finance announced that it has updated sections of its Compliance & Disclosure Interpretations (C&DIs), which make up the Division’s interpretations for Regulation S-K. The revisions include new questions and answers in Section 128D and updates to certain sections of Section 228D of Regulation S-K. Continue reading "SEC’s Division of Corporate Finance Publishes..." »