The SEC is adopting amendments to the expiration dates in the interim final rules that provide exemptions for those security-based swaps that, prior to July 16th, 2011, were security-based swap agreements and defined as “securities” under the Securities Act and Exchange Act. This definition is due solely to the provisions of Title VII of the Dodd-Frank Wall Street Reform Act and the Consumer Protection Act. Under the new amendments, the expiration dates on the interim final rules will become February 11, 2018.

When EDGAR Release 17.1 goes into effect on March 13, 2017, new online versions of the Transfer Agent filing forms will become mandatory. These forms, TA-1, TA-1/A, TA-2, TA-2/A, and TA-W, will become available on the EDGAR Filing Website.

As computers advance so do their operating systems, bringing better user experiences and faster operations. However, such changes usually have a cost so not all businesses adopt a change unless it there is a very clear and measurable benefit. Evidence of this practice was abound when the end of life came for Windows XP, as many businesses were still using that operating system instead of Vista, 7 or 8. Waiting until after the end of support for an operating system to occur before upgrading isn’t ideal, and the difficulties such businesses encountered should be a lesson for all.

Acting Chairman Michael S. Piwowar released a statement on February 6, 2017 regarding the reconsideration of the SEC’s pay ratio disclosure. Adopted in August 2015, compliance for the rule was delayed for companies until their first fiscal year beginning on or after January 1, 2017. As companies have started the process of implementing systems and controls to process the information needed in the disclosure, the SEC has begun to hear reports of unanticipated compliance difficulties.

On February 3rd, Congress voted to kill the controversial anti-corruption disclosure rule related to reporting requirements for publicly traded commercial oil, natural gas or mineral companies. This rule (Rule 13q-1) would have required all gas, oil, and mineral companies that are publicly traded to disclose the use of conflict minerals and any payments to foreign governments for resource rights via an XBRL exhibit on EDGAR Form SD.

On January 30, 2017, EDGAR 17.0.2 was released by the Securities and Exchange Commission. This release primarily contained updates to add two phase authentication when a filer resets a passphrase. Other changes affect Forms X-17A-5 and X-17A-5/A.

With the upcoming update to the EDGAR System, the SEC plans to introduce two phase authentication when requesting a reset for an EDGAR passphrase. Filers are advised to update their contact information on EDGAR before this change goes into effect.

On January 4th, 2017, President-elect Donald Trump nominated Jay Clayton as the next chairman of the Securities and Exchange Commission. Clayton is currently a partner at the law firm Sullivan & Cromwell, which works with investment and other Wall Street firms on mergers, acquisitions, and regulatory oversight.

There are quite a few changes that SEC filers can expect in the upcoming year. Regulations become effective and compliance dates are set that will have varying degrees of impact on financial and EDGAR reporting. Here’s a quick overview of what you can expect this year from the SEC.