On Thursday, May 30th, the SEC reminded issuers that, under US Generally Accepted Accounting Principles (GAAP), certain entities must provide basic and diluted earnings per share (EPS) with equal prominence on the face of the income statement for each period presented in their annual and interim reports. For filings in which basic and diluted EPS have the same value and are presented only once on the face of the income statement, an entity should tag that amount twice using both tags. Continue reading "SEC Provides Guidance Related to Incorrect..." »

The SEC issued a draft version of the security-based swap (SBS) XBRL taxonomy in March 2024 that will be used by security-based swap execution facilities (SBSEFs) to file specified information electronically with the SEC using the EDGAR system in Inline XBRL. The agency has now released to the public sample documents to aid preparers in implementing the taxonomy. Continue reading "SEC Releases Draft 2024 Security-Based Swap..." »

The SEC’s Division of Investment Management Analytics Office has released a new report of Registered Fund Statistics, which will provide significant industry data and information on trends over time. The report is based on compiled data reported on Form N-PORT by funds registered with the SEC and designed for a wide range of users. The new report is intended to provide the public with a consistent and comprehensive view into the registered funds industry, which is comprised of more than 12,000 funds and greater than $26 trillion in total net assets under management. The Division will update this report quarterly. Continue reading "SEC Staff Issues New Report of Registered Fund..." »

The SEC’s Division of Examinations has released a Risk Alert, sharing initial observations from examinations of investment advisers’ compliance with the Marketing Rule, on which the Division will continue to place emphasis. Continue reading "SEC Issues Risk Alert Regarding Advisers Act..." »