Rule ID: DQC_0217
Status: Final
Release date: October 15, 2025
Effective date: December 15, 2025

Purpose:

The purpose of Rule DQC_0217 is to ensure that notional amount concepts, specifically DerivativeLiabilityNotionalAmount and DerivativeAssetNotionalAmount, are not reported with the InvestmentIdentifierAxis. Instead, these notional amount facts should be reported using one of the appropriate derivative axes: OpenOptionContractIdentifierAxis, OpenFuturesContractIdentifierAxis, OpenForwardForeignCurrencyContractIdentifierAxis, or OpenSwapContractIdentifierAxis. This rule enforces correct dimensional tagging for derivative notional amounts, in accordance with SEC guidance, to promote accurate, complete, and consistent reporting in the Schedule of Investments (SOI).

Conditions:

The rule will run on all filings that include schedule of investment disclosures.

• For any fact reported with the concept DerivativeLiabilityNotionalAmount or DerivativeAssetNotionalAmount and the axis InvestmentIdentifierAxis, the rule will trigger an error.
• The rule instructs filers to use one of the specified derivative axes instead of InvestmentIdentifierAxis for these notional amount concepts.

This rule addresses cases where filers incorrectly tag notional amount facts for derivatives using the InvestmentIdentifierAxis rather than the appropriate derivative axis. Such tagging can lead to incomplete, unclear, or inconsistent financial disclosures, making it difficult for users of the financial statements to fully understand the nature and classification of derivative investments. The rule ensures that all notional amount facts for derivatives are tagged with the correct axis, promoting accurate and complete tagging of investment data.

The filer has reported a value of 5,000,000 for the DerivativeLiabilityNotionalAmount concept. This is for the investment ABC Investment LLC. Given this is a notional amount the value should be reported with one of the following axes: OpenOptionContractIdentifierAxis, OpenFuturesContractIdentifierAxis, OpenForwardForeignCurrencyContractIdentifierAxis, or OpenSwapContractIdentifierAxis.

Please ensure that these values are reported for each investment using one of the above derivative axes. The SEC has issued guidance on this issue called 'Incomplete and Inappropriate Tagging for Business Development Companies' Schedule of Investments which can be found at https://www.sec.gov/newsroom/whats-new/2506-dqreminder-inappropriate-tagging-bdc-soi.

Concept : us-gaap:DerivativeLiabilityNotionalAmount
Period : 2025-12-31
Dimensions : us-gaap:InvestmentIdentifierAxis=ABC Investment LLC
Unit : USD

Rule Element Id: 10745
Rule version: 28.0.0RC1

The rule element ID is used to identify unique elements or combinations of elements tested in the rule.

© Copyright 2017 - 2025 XBRL US, Inc. All rights reserved.
See License for license information.
See Patent Notice for patent infringement notice.