Media

Thursday, April 9, 2020

SEC Requires XBRL in Final Rule “Securities Offering Reform for Closed-End Investment Companies”

The Securities and Exchange Commission published the final rule for Securities Offering Reform for Closed-End Investment Companies, which modifies the registration, communications and offering process for business development companies (BDC) and other closed-end investment companies. In addition, the final rule adopts structured data reporting requirements: BDCs will be required to submit financial statements in Inline […more]

Wednesday, April 8, 2020

How Data Transparency Can Help Fight COVID-19

Marc Joffe of the Reason Foundation, and Chair of the XBRL US Standard Government Reporting Working Group, writes that to make better-informed decisions about coronavirus, governments should be publishing comprehensive, machine-readable data sets. The article goes on to note: “In the weeks since COVID-19 became a pandemic, a plethora of data dashboards have been launched […more]

Friday, March 27, 2020

SEC Adopts Temporary Relief Measures in Response to COVID-19

In response to the COVID-19 public health crisis, the SEC announced that they are adopting a temporary rule to allow applicants for EDGAR access to upload a signed copy of Form ID (completed online) without the notarization, containing a statement that applicants were unable to obtain notarization due to difficulties related to COVID-19.  Within 90 […more]

SEC Publishes Draft 2020 DEI Taxonomy for Public Review

The SEC published the draft DEI Taxonomy, 2020 update, for a public review and comment period ending May 27, 2020. Comments on the draft 2020 update to the DEI taxonomy should be sent via email to StructuredData@sec.gov using “Draft 2020 DEI Taxonomy” as the subject of the email. Access the taxonomy:  https://www.sec.gov/structureddata/osddrafttaxonomyfiles Read the announcement: https://www.sec.gov/structureddata/announcement/osd-announcement-032720-draft-2020-dei-taxonomy

Thursday, March 26, 2020

SEC on Availability of FASB Implementation Guides

The SEC announced the availability of FASB Implementation Guides covering the following topics: Accounting Changes Financing Receivable and Current Expected Credit Loss Disclosures Insurance—Long-Duration Contracts Leases under Topic 842 Retirement Benefits—Phase 3 Revenue from Contracts with Customers (Including Statement Presentation of Revenue and Cost of Revenue) Read the announcement. Access the guides.  

Wednesday, March 25, 2020

SEC Final Rule on Accelerated and Large Accelerated Definitions, New Cover Page Checkbox

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.

Tuesday, March 24, 2020

Certent Customers Set a New Standard for Reports Filed with the SEC

Certent Disclosure Management’s new HD ReportingSM feature to provide investors with innovative and easier-to-read filings. Certent, Inc., a leading provider of software-as-a-service solutions for financial disclosure management and equity compensation, announced today that the first wave of its customers have used Certent’s High Definition (HD) ReportingSM and become the first organizations to successfully file pixel-perfect, […more]

Monday, March 23, 2020

SEC Amends Reg NMS, Proposes New Form CC

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.

Friday, March 20, 2020

FERC Proposes XBRL for Form 730, Report of Transmission of Investment Activity

The FERC rule proposal noted “The XBRL standard also offers flexible benefits, including the ability to support simple formulas such as addition and subtraction and allow more complex formulas to be defined with a set of guidelines… requiring XBRL-based data would also lead to greater data quality through easier validation checks.”  

Monday, March 16, 2020

XBRL US Comments on SEC Resource Extraction Payments Proposal

Cites goal of providing more information to global markets, and holding governments accountable for management of oil, gas, and mineral resources.