Updates

Posted Friday, April 2, 2021

SEC Adopts Interim Final Amendments: Holding Foreign Companies Accountable Act

The Securities and Exchange Commission (SEC) announced the adoption of interim final amendments to Forms 20-F, 40-F, 10-K, and N-CSR to implement disclosure and submission requirements of the Holding Foreign Companies Accountable Act (HCFA) Act. The interim final amendments apply to: “…registrants that the Securities and Exchange Commission identifies as having filed an annual report […more]

Posted Friday, April 2, 2021

Newsletter for the Reporting Standard of Business and Government

March, 2021 Corporate sustainability takes center stage for both industry and regulators. March was a busy month for those interested in climate and other ESG topics. The Sustainability Accounting Standards Board (SASB) published its draft XBRL Taxonomy, which represents ESG metrics for 77 industry groups. XBRL US’ Domain Steering Committee reviewed and provided feedback to […more]

Posted Wednesday, March 24, 2021

2021 IFRS Taxonomy

The International Financial Reporting Standards (IFRS) Taxonomy is the global standard issued by the IFRS Foundation to mark up electronic IFRS financial statements. By providing the IFRS Taxonomy, the International Accounting Standards Board can ensure that the taxonomy used is an accurate representation of International Financial Reporting Standards (IFRS Standards). 2021 IFRS Taxonomy resources – includes .zip, […more]

Posted Wednesday, March 24, 2021

SEC Web Page on Climate and ESG Risks and Opportunities

The Securities and Exchange Commission has established a new web page to bring together Commission actions and updates on climate and ESG investing. Link to the SEC Climate and ESG Risks and Opportunities page.

Posted Wednesday, March 24, 2021

SEC Updates EDGAR, Supports 2021 Taxonomies

The Securities and Exchange Commission (SEC) has updated EDGAR to Release 21.1 and now supports these 2021 taxonomies: U.S. GAAP SEC Reporting (SRT) Countries (COUNTRY) Currencies (CURRENCY) Document and Entity (DEI) Exchanges (EXCH) North American Industry Classification System (NAICS) Risk-Return (RR) Standard Industrial Classification (SIC) State and Province (STPR) The SEC announcement indicated that they […more]

Posted Tuesday, March 23, 2021

2021 US GAAP Financial and SEC Reporting Taxonomies

The 2020 GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements, including an initial set of Data Quality Committee Rules.

Posted Tuesday, March 16, 2021

SEC Request for Comment on Climate Disclosure

The Securities and Exchange Commission published a speech from Acting SEC Chair Allison Herren Lee, titled “A Climate for Change: Meeting Investor Demand for Climate and ESG Information at the SEC”. In her speech, the SEC Chair references an SEC Request for Comment on Climate Disclosure which includes a list of detailed questions covering topics […more]

Posted Thursday, March 11, 2021

SEC Acting Director of Corporation Finance Speech on ESG Disclosures

The Securities and Exchange Commission (SEC) today published a speech from Acting Director of the Division of Corporation Finance John Coates on “ESG Disclosures –  Keeping Pace with Developments Affecting Investors, Public Companies and the Capital Markets” in which he addressed the relevance of ESG disclosures. Below are excerpts from his speech: On Considerations for […more]

Posted Wednesday, March 10, 2021

SEC BETA EDGAR Helps Vendors and Issuers

By John Truzzolino, Chair, XBRL US Regulatory Modernization Working Group, and Director, Donnelley Financial Services (DFIN); with members of the Working Group

We appreciate the helping hand offered by the Commission to take concrete steps to improve the efficiencies of the EDGAR system, and to work in partnership with vendors and issuers to improve communication, and provide the market with tools that can reduce friction in the processing of time-sensitive, market-moving filings. 

Posted Thursday, March 4, 2021

SEC Creates Climate and ESG Task Force in Division of Enforcement

The Securities and Exchange Commission (SEC) announced the creation of a Climate and ESG Task Force in the Division of Enforcement. The focus of the task force, which will be led by Kelly Gibson, Acting Deputy Director of Enforcement, will be to proactively identify ESG-related misconduct. The initial focus will be to identify any material […more]