On December 8th, the SEC announced that its Interactive Data Test Suite has been updated. The test suite provides help to filers using software to validate Interactive Data, ensuring the timely identification and resolution of potential errors before submission to EDGAR. To view a summary of the twelve revisions made in this update, see the change log in the last section of the summary file. Continue reading "SEC Releases Interactive Data Test Suite Update" »

The SEC has adopted rules and form amendments to require the electronic filing or submission of certain documents that currently are permitted to be filed or submitted in paper as well as the use of Inline XBRL for the filing of the financial statements and associated schedules to the financial statements required by Form 11-K. Continue reading "SEC Announces Approved Updates to Electronic..." »

XBRL US has announced that it will host the second of two virtual seminars to familiarize investment management filers with the new SEC XBRL requirements under the SEC’s final rule, Securities Offering Reform for Closed-End Investment Companies, which will be effective August 1, 2022. The event will take place on Tuesday, June 7, 2022, from 3:00 p.m. to 4:00 p.m. ET. {expires: 2022-06-08} Continue reading "XBRL US to Host Second Webinar in Series:..." »

On March 21st, the SEC announced that it is proposing amendments to its rules under the Securities Act and Securities Exchange Act that would make it mandatory for domestic and foreign registrants to include specific climate-related data in their annual reports and registration statements. This data would need to be disclosed in a structured data format. The proposal is open for public comment. Continue reading "SEC Proposes Rule Amendments to Improve..." »

The Financial Accounting Standards Board (FASB) has announced that it will host a webcast designed to provide participants with greater knowledge of how enhancements in the 2022 GAAP Financial Reporting Taxonomy (including those related to recently implemented FASB Accounting Standards Updates) will affect registrant XBRL filings. The event will take place on Tuesday, April 5, 2022 from 1:00 p.m. to 2:30 p.m. ET and will be presented live via webcast on fasb.org. {expires: 2022-04-06} Continue reading "FASB to Host Webinar: 2022 GAAP and SEC..." »

On March 3rd, the SEC announced that it is requesting feedback on interactive data collection. Issuers filing registration statements under the Securities Act of 1933 and reports under the Securities Exchange Act of 1934 are required to submit specified financial information to the SEC and post it on their corporate websites in an interactive data format using XBRL. The interactive data requirement is designed to simplify investors’ ability to evaluate financial information and to help issuers automate regulatory filings and business information processing. The SEC is seeking feedback on the burden of these requirements, as well as the quality of the interactive data itself. Continue reading "SEC Extends Interactive Data Rule, Seeks Comment" »

XBRL US’ Data Quality Committee (DQC) will host a virtual Q&A-style discussion with the SEC on Filing Fee Disclosures and Payment Methods Modernization, the final rule which comprises new requirements that will impact many reporting entities and SEC submissions. Speakers from the SEC’s Office of Financial Management and its Division of Corporate Finance will cover topics related to disclosure, technical and general issues pertaining to the rule. The webinar will take place on Tuesday, March 22, from 3:00 p.m. to 4:00 p.m. ET and will be moderated by Scott Theis, chairman of the XBRL US Domain Steering Committee and Novaworks’ President. {expires: 2022-03-23} Continue reading "XBRL US to Host Webinar with SEC to Discuss..." »

The EDGAR Business Office (EBO) has announced that on March 1, 2022, it will temporarily suspend the use of the EDGAR beta environment (EDGAR Beta) for testing of EDGAR Next code and to deploy code for other testing purposes. At a future date, the EBO will announce the re-deployment of EDGAR Next code in EDGAR Beta to allow filers to test possible future EDGAR Next technical changes.

Continue reading " SEC Announces Temporary Pause to EDGAR Beta..." »

The SEC has announced that on or about April 4th, it will introduce a change to the EDGAR filing websites (EDGAR Link Online and Online Forms) that will affect the way certain third-party software may communicate with these websites. EDGAR will develop a unique parameter that some third-party software products may need to include in each request that enters/updates data. EDGAR will both verify the existence and validity of the parameter in filers’ requests and end user sessions if the value of the parameter is missing or mismatched. Continue reading "SEC Advises on Filing Agent/Filer Software..." »

On January 14th, staff in the SEC’s Division of Economic and Risk Analysis noted that some filers were using incorrect context dates when tagging fact values in Forms 10-K and 10-Q. Continue reading "SEC Issues Guidance for Filers Using Incorrect..." »

XBRL US has announced that it will host a webinar to discuss the demand for corporate Environmental Social Governance (ESG) data and what investors expect from public companies reporting about their environmental impact. The SEC is taking action on how companies report information about ESG and climate change, and this webinar will take place ahead of an expected rule proposal on these matters. The one-hour event will take place on Wednesday, January 19, 2022, and will begin at 3:00 p.m. EST. {expires: 2022-01-20} Continue reading "XBRL US to Hold Webinar: Supporting ESG Data..." »