Media

Monday, June 13, 2022

XBRL US Comments on SEC Proposal RE: SPACs, Shell Companies and Projections

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]

Friday, June 10, 2022

XBRL US Comments on SEC Proposal RE: Security-Based Swap Execution

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]

Friday, June 3, 2022

SEC Final Rule Mandates XBRL for Employee Stock Purchase & Savings Plans

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]

SEC Requests Input on Data Collection of Form N-MFP

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]

Wednesday, May 25, 2022

SEC Proposed Enhanced ESG Disclosures by Investment Companies in Inline XBRL

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]

SEC Proposes Rule on Investment Company Names

The Securities and Exchange Commission (SEC) published a rule proposal on Investment Company Names, which aims to address investment company names that are likely to mislead investors about an investment company’s investments and risks. The proposed amendments to this rule are designed to increase investor protection by improving and clarifying the requirement for certain funds to […more]

Tuesday, May 24, 2022

Federal Data Transparency Act Introduced to the Senate

On Tuesday, May 24, the Financial Data Transparency Act (FDTA) (S.4295) was referred to the Senate Committee on Banking, Housing, and Urban Affairs. The bill is sponsored by Senator Mark Warner (Democrat) and co-sponsored by Senator Mike Crapo (Republican). The FDTA legislation directs the Department of the Treasury, Securities and Exchange Commission, Federal Deposit Insurance […more]

Monday, May 9, 2022

XBRL US Comments on SEC Collection of Interactive Data

XBRL US submitted a comment letter to the Securities and Exchange Commission (SEC) in response to their request on the proposed collection of interactive data. Key points made in the letter include: We support the continued use of XBRL for SEC data collection as machine-readable data is not only important for investors but it assists […more]

XBRL US Comment on SEC Cybersecurity Risk Management, Strategy, Governance & Incident Disclosure

XBRL US submitted a comment letter to the Securities and Exchange Commission (SEC) in response to their request for comment on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure. The XBRL US letter agreed with the proposed requirement that cybersecurity incident data and cybersecurity policies be provided in Inline XBRL format, both narrative and detail […more]

Wednesday, April 20, 2022

XBRL US Data Quality Committee Publishes 5 New Rules in 18th Draft Rule Set for US GAAP Filers

The XBRL US Data Quality Committee (DQC) has published its 18th Rule Set for a 45-day public review and comment period, which closes on May 30, 2022. The freely available DQC rules are developed through a collaborative process with stakeholders by exposing proposed guidance and validation rules for public comment. The Financial Accounting Standards Board […more]