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The Securities and Exchange Commission (SEC) Office of the Chief Data Officer published their Data Strategy FY 2022 – 2026 on January 26, 2023. The SEC Data Vision references goals: Enhance use of data assets Design and build integrated data infrastructure Promote data awareness and literacy Strengthen data management and governance
The Financial Accounting Standards Board (FASB) has extended the period for the Invitation to Comment on Proposed Meta Model Relationships to May 11, 2023. Additional information about the ITC can be found through this FASB/XBRL US webinar, “FASB Meta Model Invitation to Comment and Proposed Policy Election Element Relationships” held on Nov 2, 2022. Watch […more]
The Securities and Exchange Commission (SEC) published to the Federal Register the final rule on Insider Trading Arrangements and Related Disclosures, which calls for new disclosure requirements regarding insider trading policies and procedures, as well as amendments to disclosure requirements for director and executive compensation. The rule requires that the new disclosure Items 402(x), 408(a) […more]
On December 23, 2022, President Biden signed into law H.R. 7776, the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023 which includes TITLE LVIII, the Financial Data Transparency Act (FDTA). The FDTA calls for the use of data standards by member agencies of the U.S. Financial Stability Oversight Council, including U.S. Treasury, […more]
The Securities and Exchange Commission (SEC) published a final rule for Enhanced Reporting of Proxy Votes by Registered Management Investment Companies; Reporting of Executive Compensation Votes by Institutional Investment Managers. This rule adopts amendments to Form N-PX and requires Form N-PX to be prepared in a custom XML schema. XBRL US had submitted a comment […more]
The Securities and Exchange Commission (SEC) has reopened the comment period for the draft Executive Compensation Disclosure (ECD) Taxonomy which has now been updated to reference the 2023 version of the 2023 US GAAP Taxonomy. Comments must be submitted by February 17, 2023 to StructuredData@sec.gov and include “Draft 2023 ECD Taxonomy” in the subject header. […more]
The Financial Accounting Standards Board (FASB) today announced the availability of the 2023 GAAP Financial Reporting Taxonomy (GRT) and the 2023 SEC Reporting Taxonomy (SRT) (collectively referred to as the “GAAP Taxonomy”). The FASB also is making available the 2023 DQC Rules Taxonomy (DQCRT), which together with the GAAP Taxonomy, are collectively referred to as the “FASB Taxonomies.” The 2023 GRT […more]
The Securities and Exchange Commission (SEC) announced that they had upgraded the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system to Release 22.4 which now supports the 2022Q4 version of the Executive Compensation Disclosure (ECD) and Document and Entity Information (DEI) taxonomies. These taxonomies provide the elements for tagging disclosures related to the Commission releases […more]
XBRL US commented on the Municipal Securities Rulemaking Board (MSRB) Request for Comment on Draft Amendments to MSRB Rule G-32 to Streamline the Deadlines for Submitting Information on Form G-32. The XBRL US letter encouraged the MSRB to consider allowing municipal securities bond issuers to optionally submit their continuing disclosure documents which include event-based and […more]
The Financial Accounting Standards Board (FASB) has issued for comment proposed GAAP Taxonomy Improvements to address the proposed Accounting Standards Update on accounting for leases between entities under common control: Leases (Topic 842) – Common Control Arrangements. Comments must be submitted by January 26, 2023. Read the release notes. Read the announcement for information on […more]
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