The new rule changes the definition of accelerated and large accelerated filers, and requires a new check box to be added to the cover page of 10-Ks, 20-Fs, and 40-Fs, which must be tagged in Inline XBRL.
Amendments introduce a decentralized consolidation model which will allow competing consolidators to collect and disseminate market quote and transaction data. The rule also proposes alternatives including the use of Inline XBRL for new Form CC, which includes general and business information, services and fees, as well as operational capability information. Comments are due by June 24, 2020.
Cites goal of providing more information to global markets, and holding governments accountable for management of oil, gas, and mineral resources.
Amendments require the use of Inline XBRL for certain required disclosures in the variable contract statutory prospectus. In addition, the SEC published a draft Variable Insurance Product (VIP) Taxonomy which has been posted for a 90-day public review.
XBRL US submitted a comment letter to the Securities and Exchange Commission’s Office of Municipal Disclosures in advance of their scheduled conference “Spotlight on Transparency: A Discussion of Secondary Market Municipal Securities Disclosure Practices”. The XBRL US letter advocated for the use of data standards for state and local government reporting and asked that the […more]
Now includes Single Audit Report schedules for municipalities and other federal grantees XBRL US announced today the public review of the third version of the demonstration Comprehensive Annual Financial Reporting (CAFR) Taxonomy, which now includes seven financial statements, two footnotes, and two schedules from the Single Audit Report. The taxonomy will be published for a […more]
February, 2020 XBRL continues to gain traction in regulatory and government reporting. On the SEC filing front, the FASB has incorporated XBRL US DQC rules into the 2020 US GAAP Taxonomy which is a big win for data quality. Separately, XBRL US submitted a comment letter on the SEC’s proposal that XBRL be required for […more]
XBRL US submitted a comment letter weighing in on the SEC proposal that fees and calculation tables in fee-based tables be prepared in Inline XBRL format. XBRL US supports the proposal and agrees with the Commission that structuring fee data will improve the efficiencies of the fee validation process for SEC staff, and will increase […more]
The Securities and Exchange Commission (SEC) has updated their Interactive Data Test Suite, which is located at https://www.sec.gov/structureddata/osdinteractivedatatestsuite. The test suite is designed to assist filers using software to validate their XBRL filing prior to EDGAR submission. For a summary of changes, see the change log on the last page of the summary file (https://www.sec.gov/info/edgar/ednews/efmtest/efm-53.1d-200210.zip). Comments […more]
The Securities and Exchange Commission’s Fixed Income Markets Advisory Committee held a meeting on February 10, 2020 including a panel on “Draft Municipal Securities Transparency Recommendation Regarding Timeliness of Municipal Issuer Disclosures”. Speakers on the panel were: Geidre Ball, Metropolitan Washington Airports Authority Emily Brock, Government Finance Officers Association Akiko Mitsui, Vanguard Hannah Sullivan, Fidelity […more]
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