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The Securities and Exchange Commission adopted amendments to modernize Regulation S-K Items 101, 103, and 105 which cover the description of business, legal proceedings, and risk factor disclosures with a goal to improve the readability of disclosure documents and discourage repetition and disclosure of information that is not material. The Commission opted against taking the […more]
The IFRS Foundation published a Consultation Paper on Sustainability Reporting with comments required by December 31, 2020. The paper outlines the current and increasing demand for sustainability information from audiences including investors, the corporate sector, central banks, market regulators, public policy makers, auditing firms and other service providers. The paper proposes three options: 1) maintain […more]
XBRL US submitted a comment letter to the SEC responding to their proposal, Administration of the EDGAR System. The proposal sought feedback on SEC actions that may be taken to promote the reliability and integrity of EDGAR submissions. They named triggering events that could result in SEC actions such as redacting information from a filing, removal […more]
The Securities and Exchange Commission published a proposal rule: Regulation ATS for ATSs that Trade U.S. Government Securities, NMS Stock, and Other Securities; Regulation SCI for ATSs that Trade U.S. Treasury Securities and Agency Securities; and Electronic Corporate Bond and Municipal Securities Markets. The rule would require filers to submit forms ATS-G, ATS, and ATS-R […more]
The Sustainability Accounting Standards Board (SASB) announced plans to build an XBRL Taxonomy to support sustainability reporting. The release points out, “By providing a common language for disclosing financially material sustainability information, SASB Standards facilitate the communication of comparable, consistent, and reliable data. By providing a common language for business reporting, XBRL can further enhance […more]
On September 30, 2020, Forbes published “A Technology Solution for Muni Bond Disclosure” by Barnet Sherman, an article that suggests that momentum is building for greater standardization in municipal reporting. In the article, Sherman notes: “…The new chair of the Governmental Accounting Standards Board (GASB), Joel Black, wrote that during his tenure, one theme will […more]
XBRL US submitted a comment letter to the SEC responding to their proposal, Reporting Threshold for Investment Managers. The proposal seeks to revise the disclosure requirement thresholds for investment managers filing Form 13F data to increase the reporting threshold from $100 million where it is today, to $3.5 billion. Today, 13F data is submitted to […more]
Illinois-based College of DuPageleads move to electronic financial reporting for Illinois community colleges Register for the free webinar.
XBRL US submitted a comment letter to the Small Business Administration (SBA) regarding the collection of data for the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The XBRL US letter recommends that the SBA and other regulators administering large relief fund programs like the CARES Act, leverage data standards to vastly increase efficiency, improve […more]
The Securities and Exchange Commission (SEC) published the final rule for Update of Statistical Disclosures for Bank and Savings and Loan Registrants. The rule amends disclosures required to be reported, and codifies certain disclosures in a new Subpart 1400 of Regulation S-K. The original proposed rule asked whether the disclosures should be included in the […more]
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