Media

Friday, October 9, 2020

XBRL US Letter to SEC COO on SEC Proposal on Fee-Based Filing Pilot

The XBRL US Regulatory Modernization Working Group, led by chair John Truzzolino, sent a letter to the SEC COO Kenneth Johnson to make suggestions related to the establishment of a pilot program for the SEC proposal on Filing Fee Disclosures and Payments Modernization. Suggestions made include allowing vendors access to an EDGAR testing system prior […more]

Wednesday, October 7, 2020

SEC Finalizes Amendments to Modernize Regulation S-K Items 101, 103, and 105

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]

Tuesday, October 6, 2020

IFRS Foundation Publishes Sustainability Reporting Consultation Paper

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]

Monday, October 5, 2020

XBRL US Comments on SEC Proposal on Administration of EDGAR System

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]

Friday, October 2, 2020

SASB Announces Plans to Build an XBRL Taxonomy for Sustainability Reporting

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]

SEC Proposes Structured Data Disclosures for Alternative Trading Systems (ATS)

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]

Wednesday, September 30, 2020

Forbes Article: A Technology Solution for Muni Bond Disclosure

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]

Tuesday, September 29, 2020

XBRL US Comments on SEC Reporting Threshold for 13F Filers

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]

Wednesday, September 16, 2020

College of DuPage Leads Move to Electronic Financial Reporting for Illinois Community Colleges

Illinois-based College of DuPageleads move to electronic financial reporting for Illinois community colleges Register for the free webinar.

Monday, September 14, 2020

XBRL US Comments on SBA Data Collection for CARES Act

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]