The SEC has released its draft of the EDGAR® Filer Manual, Volume II: “EDGAR Filing” (Version 66). This draft Volume II of the EDGAR Filer Manual is accessible to filers in anticipation of feedback and to help issuers prepare for potential updates to the EDGAR system detailed in the draft and scheduled to be introduced in EDGAR Release 23.2 on June 20, 2023. Continue reading "SEC Releases New Draft EDGAR Filer Manual for..." »

The SEC's Boston Regional Office, in conjunction with the FBI and the Consumer Financial Protection Bureau, will hold a meeting to discuss current scams and how older Americans may be better protected from fraud. This virtual event is free for the public to join and takes place on Monday, June 5th at 2:00 p.m. Attendees may submit questions for event speakers in advance via email to Boston@sec.gov. {expires: 2023-06-05} Continue reading "SEC Staff to Host Webinar: Protecting Older..." »

On May 17, the SEC announced proposed rule amendments that would strengthen the resilience as well as the recovery and wind-down plans (RWPs) of covered clearing agencies (CCAs) under the Securities Exchange Act of 1934. The revisions would update both the current rules concerning intraday margin and the use of substantive inputs to a CCA’s risk-based margin system. The proposed rules are now open for public comment. Continue reading "SEC Announces Rule Proposal and New Rule to..." »

On May 11th, the Financial Accounting Standards Board (FASB) released a proposed Accounting Standards Update (ASU) designed to enhance generally accepted accounting principles (GAAP) by including illustrative guidance to help entities determine whether profits interest and similar awards should be considered a share-based payment arrangement within the scope of Topic 718, Compensation—Stock Compensation. The FASB is inviting interested parties to submit feedback on the proposed update. Continue reading "FASB Releases Proposal to Clarify Accounting..." »

The FERC will hold its monthly open meeting via webcast on ferc.gov on Thursday, May 18, 2023, at 10:00 a.m. ET. The one-hour meeting is open for the public to attend. {expires: 2023-05-19} Continue reading "FERC to Hold Monthly Open Commission Meeting" »

The SEC’s Division of Trading and Markets will hold an open meeting via webcast on sec.gov to address matters related to Covered Clearing Agency Resilience and Recovery and Wind-Down Plans. The meeting will take place on Wednesday, May 17, 2023 at 10:00 a.m. and is free and open for the public to attend. {expires: 2023-05-18} Continue reading "SEC Staff to Discuss Covered Clearing Agency..." »

The Board of Trustees of the Financial Accounting Foundation (FAF) has announced an enhancement that will facilitate stakeholders’ ability to raise potential concerns about compliance with the due process procedures of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). This is part of FAF’s continuing endeavor to improve its oversight activities and to further increase disclosure requirements for stakeholders. The enhancement gives stakeholders the ability to flag and report to the FAF’s Oversight Committee (Committee) supposed failures by either the FASB or the GASB to follow their due process procedures as defined in the FAF By-Laws. Continue reading "FAF Trustees Improve Stakeholder Feedback..." »

On May 4th, the SEC adopted amendments to its current rules and forms that will require open-end management investment companies to provide annual and semiannual reports to shareholders that are both concise and visually engaging and that highlight key information for retail investors to assess and monitor their fund investments. More information is available in the SEC’s October 2022 final rule, Tailored Shareholder Reports for Mutual Funds and Exchange-Traded Funds; Fee Information in Investment Company Advertisements. Continue reading "SEC Releases Draft 2023 Open-End Fund Taxonomy" »

On May 3rd, the SEC adopted rule amendments to Form PF that requires current reporting for certain private fund advisers and revises certain reporting requirements. Form PF is the confidential reporting form for certain SEC-registered investment advisers to private funds. Continue reading "SEC Adopts Amendments to Improve Private Fund..." »

On May 3rd, the SEC adopted rule amendments that modernize and improve disclosure about repurchases of an issuer’s equity securities that are registered under the Securities Exchange Act of 1934. Prior to the rule’s adoption, and pursuant to Regulation S-K, corporate issuers were required to file domestic forms to disclose, on a quarterly basis, any purchase made by or on behalf of the issuer of shares that are registered under Section 12 of the Exchange Act aggregated on a monthly basis. The same disclosure was required annually for foreign private issuers (FPIs) and semiannually for listed closed-end funds that are exchange traded. Continue reading "SEC Approves Amendments to Modernize Share..." »

On April 28th, the SEC reopened the comment period for its February 2022 proposal, Modernization of Beneficial Ownership Reporting. The agency also announced that its Division of Economic and Risk Analysis (DERA) released a memorandum that provides supplemental data and analysis related to the proposed amendments’ economic effects. The proposal would amend certain rules that govern beneficial ownership reporting under Exchange Act Sections 13D and 13G, which would enhance disclosure requirements, reduce information imbalances, and provide more timely information to meet the needs of investors and the market.
Continue reading "SEC Reopens Comment Period for Modernization of..." »

On May 2nd, the SEC’s Market Structure staff released updated metrics on its webpage. The SEC created the Market Structure webpage on sec.gov to promote better understanding of equity markets and equity market structure through the use of data and analytics. Continue reading "SEC Provides Updated Market Structure Metrics" »

On April 20, 2023, the FERC approved a final rule that provides incentive-based rate treatment for utilities making certain voluntary cybersecurity investments. Under the Infrastructure Investment and Jobs Act of 2021, Congress directed the FERC to update its regulations to establish incentive-based rate treatments, encouraging utility companies to invest in advanced cybersecurity technology. The act also directs the FERC to participate in cybersecurity information-sharing programs, which would protect and benefit consumers. Continue reading "FERC Announces Adoption of Incentive Rate..." »

The SEC’s Division of Investment Management has announced that it will host its inaugural “Conference on Emerging Trends in Asset Management”, which will bring together academics and members of the asset management industry. The remote conference will take place on Friday, May 19, 2023, from 10:00 a.m. to 5:00 p.m. ET. The event is free and open to the public via live webcast on sec.gov. Interested parties may register for the conference until Wednesday, May 17th. {expires: 2023-05-20} Continue reading "SEC Announces First Conference on Emerging..." »