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The Financial Accounting Standards Board (FASB) announced the public review and comment period for the 2022 Q3 Supplemental GAAP Taxonomy. This taxonomy contains elements to help Business Development Companies (BDC) meet their new tagging requirements in addition to other improvements. The taxonomy is out for public review through August 1, 2022. Review the FASB Announcement […more]
The Securities and Exchange Commission (SEC) published their Agency Rule List – Spring 2022 which covers rules in final and proposed stage. Final Action dates noted for certain rules important to XBRL providers include: Share Repurchase Disclosure Modernization Oct 2022 Shortening the Securities Transaction Settlement Cycle Oct 2022 Pay versus Performance Oct 2022 Erroneously […more]
XBRL US submitted a comment letter in response to the SEC proposal on The Enhancement and Standardization of Climate Related Disclosures for Investors. Our comment letter supported the proposal requirements to prepare ESG data in Inline XBRL format to improve the consistency and usability of reported data. Key points raised in the letter include: Academic […more]
Marc Joffe, Senior Policy Analyst at Reason Foundation (XBRL US member) noted in a recent blog post, “XBRL can make data from state and local governments more digestible and publicly available. In 2002, three academic researchers proposed applying eXtensible Business Reporting Language (XBRL) to state and local government financial reporting to make municipal data more digestible and […more]
Governments, standard setters, regulators, and analysts encouraged to provide input XBRL US, a nonprofit standards organization, and the Center for Local, State, and Urban Policy (CLOSUP) at University of Michigan’s Gerald R. Ford School of Public Policy, announced the publication of digital financial data standards for local government reporting entities, that can be used to […more]
XBRL US submitted a comment letter in response to the SEC proposal on Special Purpose Acquisition Companies, Shell Companies, and Projections. Our letter supported the Commission’s proposal to require SPACs to tag disclosures as called for in Subpart 1600 of Regulation S-K in Inline XBRL. Disclosures to be required include additional information about the sponsor […more]
XBRL US submitted a comment letter in response to the Securities and Exchange Commission (SEC) proposal on Rules Relating to Security-Based Swap Execution and Registration and Regulation of Security-Based Swap Execution Facilities. This proposal calls for new Form SBSEF to be prepared by security-based swap execution facilities (SBSEF) in Inline XBRL format. Form SBSEF includes […more]
The Securities and Exchange Commission (SEC) announced the final rule “Updating EDGAR Filing Requirements and Form 144 Filings” which mandates the electronic filing of certain documents; the rule also requires the use of Inline XBRL for filing financial statements and accompanying notes to the financial statements required in the annual reports of employee stock purchase, […more]
The Securities and Exchange Commission (SEC) published to the Federal Register a notice of information collection for the Form N-MFP, the Monthly Report for Money Market Funds. Today this form, which details disclosure items related to portfolio holdings, is required to be reported in XML format. We believe that Form N-MFP which contains weekly facts […more]
The Securities and Exchange Commission (SEC) published a rule proposal on Enhanced Disclosures by Certain Investment Advisers and Investment Companies About ESG Investment Practices. As proposed, this rule would require registered investment advisers, certain advisers that are exempt from registration, registered investment companies, and business development companies, to provide additional information regarding their environmental, social, and […more]
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