The Securities and Exchange Commission announced their plan to host a roundtable on Short-Term / Long-Term Management of Public Companies, Our Periodic Reporting System and Regulatory Requirements. This event will be held on July 18 at 12:30 ET and the public is invited to attend (it will be held at SEC offices at 100 F […more]
The SEC posted an analysis of extensions used in XBRL submissions. While there is little change in the overall rate for filers from 2017 to 2018 (hovering around 18%), accelerated filers use of extensions has come down slightly versus prior period, and is now more inline with other filers at 18%. Read the release.
The SEC published a concept release on ways to ways to simplify, harmonize, and improve the exempt offering framework to expand investment opportunities while maintaining appropriate investor protections and to promote capital formation. One of the goals of the Commission is to facilitate a company’s ability to transition from one offering to another or to […more]
XBRL US submitted a comment letter to the SEC concerning their proposal for Securities Offering Reform for Closed-End Investment Companies. This proposal, if passed as currently written, will require the use of Inline XBRL for financial data submitted to the Commission by Business Development Companies, for prospectus’ and for data on certain forms. The XBRL […more]
On June 10, 2019, the SEC upgraded the EDGAR System to Release 19.2 to support the 2019 Document and Entity Information (DEI) Taxonomy which now contains new elements to facilitate compliance with cover page tagging of Forms 10-K, 10-Q, 8-K, 20-F and 40-F. Read the release.
The XBRL US Data Quality Committee meets periodically with the staff of the SEC to discuss issues relating to the use of XBRL data. The purpose of the following highlights is to summarize the issues discussed at the meetings. These highlights do not represent official positions of the XBRL US Data Quality Committee. In addition, […more]
The SEC published the draft EDGAR Filer Manual which includes the following XBRL-related topics: Filers will be able to include cover tags within any Inline XBRL document set for submission forms that permit Inline XBRL. EDGAR will warn filers if any required cover tags are missing, nil, or empty in 10-K, 10-K/A, 10-KT, 10-KT/A, 10-Q, […more]
On April 9, 2019, the Securities and Exchange Commission posted to the Federal Register a proposal to require the use of structured data for: Business Development Companies (BDC) submitting financial statement information using Inline XBRL; BDCs and closed end funds (CEF) to include structured covered page information in their registration statements on Form N-2 using […more]
On March 20, the SEC finalized the FAST Act Simplification and Modernization of Regulation S-K Rule which includes a requirement for registrants to tag all cover page data in Inline XBRL. The objective of this section of the rule is to “further enhance investors’ use of interactive data to identify, count, sort, compare, and analyze […more]
On March 11, 2019, the SEC EDGAR system was upgraded to Release 19.1 and now supports the 2019 U.S. GAAP, 2019 SEC Reporting (SRT), 2019 Currencies (Currency), and 2019 Exchanges (EXCH) taxonomies. The 2019 U.S. GAAP financial reporting taxonomy and the 2019 SEC Reporting Taxonomy reflect the same taxonomies that FASB made available on its […more]