On August 25th, the SEC announced that the fees that public companies and other issuers pay to register their securities with the SEC will be $147.60, an increase from $110.20 per million dollars in the previous fee rate advisory. The change in the fee rate will be effective October 1. Continue reading "SEC Issues First Fee Rate Advisory for Fiscal..." »

On August 23rd, the SEC announced that it is adopting rule amendments to an exemption from Section 15(b)(8) of the Exchange Act. Under Section 15(b)(8), a broker or dealer registered with the SEC must join a national securities association unless the broker or dealer makes transactions in securities specifically on an exchange of which it is a member. Presently, the Financial Industry Regulatory Authority (FINRA) is the only registered association. The SEC initially proposed these amendments in March 2015 and subsequently re-proposed the amendments in July 2022. Continue reading "SEC Amends Rules Regarding Exemption From..." »

On July 12, Novaworks hosted a helpful virtual seminar to show filers in the utilities and energy industries a simple and cost-effective way to prepare and submit Form 6Q to the FERC in the required XBRL format. This webinar is now available to view on YouTube.com. Continue reading "Novaworks’ Webinar on Filing Form 6Q to the..." »

SEC staff will hold an open meeting via webcast on sec.gov on Wednesday, August 23, 2023, at 10:00 a.m. EDT. The meeting will focus on private fund and investment advisor compliance, is free, and open for the public to attend. {expires: 2023-08-24} Continue reading "SEC’s Division of Investment Management and..." »

The SEC’s Division of Economic and Risk Analysis (DERA) has announced that it has concluded its assessment of the way filers are tagging write-offs for their credit quality indicator disclosures in their Form 10-K and their allowance for credit loss. The assessment was conducted only on those filers that have financing receivables and follow Accounting Standards Codification (ASC), Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, a set of accounting standards that modernized the way entities measure credit losses on financial instruments published by the Financial Accounting Standards Board (FASB) in March 2022. Continue reading "SEC Issues Findings on Tagging Allowance for..." »

On July 31st, the Financial Accounting Standards Board (FASB) released a proposed Accounting Standards Update (ASU) that would require public companies to provide disclosures in financial statements about that company’s expenses that would help investors make informed decisions concerning investments. Investors benefit greatly by understanding a company’s performance, assessing a company’s prospects for future cash flows, and having the ability both to observe a company’s performance over time and to compare with that of other companies. Continue reading "FASB Issues Proposed ASU to Enhance Income..." »

The SEC is proposing new rule amendments under Section 203 of the Investment Advisers Act of 1940 to eliminate, or neutralize the effect of, certain conflicts of interest when broker-dealers or investment advisers (collectively known as “firms”) interact with investors using covered technology. Covered technology refers to a firm’s use of analytical, technological, or computational functions, algorithms, models, correlation matrices, or similar methods or processes that optimize for, predict, guide, forecast, or direct investment-related behaviors or outcomes of an investor. Continue reading "SEC Proposes Reforms to Mitigate Risks to..." »

The SEC has announced that it is adopting rule amendments to improve and standardize disclosures for cybersecurity risk management, strategy, governance, and incidents by public companies subject to the reporting requirements of the Securities Exchange Act of 1934. In particular, the SEC is adopting rules and rule amendments that will require current disclosure about material cybersecurity incidents. Continue reading "SEC Adopts Rules on Public Company..." »