On November 17th, the FERC released its 16th annual report on its enforcement activities, which offers a comprehensive overview of the agency’s accomplishments in 2022 as part of its efforts to ensure that all energy markets are efficient, safe, reliable, and secure. The report includes the FERC’s significant actions, as well as its strategic goals and its guidance to the industry. The report also serves an important function in providing the public and the regulated community with more information regarding the FERC’s Office of Enforcement’s non-public activities. Continue reading "FERC Reviews Its Enforcement Activities for..." »

The SEC will be closed Friday, November 11, in observance of Veterans Day. The EDGAR System will not receive, process, or accept filings on this day. Filings with a due date of November 11 will be due the following business day. The FERC will also be closed in observation of Veterans Day. eForms will accept filings submitted on November 11th. {expires: 2022-11-12} Continue reading "Veterans Day" »

XBRL US will host a virtual conference to discuss the new compliance requirements associated with the SEC’s recent final rule, Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts. These new requirements will go into effect early 2023. The webinar will take place November 15th. Continue reading "XBRL US Announces Web Conference: Variable..." »

On November 2nd, the SEC proposed amendments designed to better prepare open-end funds for stressed market conditions and to mitigate potential dilution of shareholders’ interests. These changes should enhance how funds manage their liquidity risks by requiring them to implement liquidity management tools and ensure timely reporting of fund information on Form N-PORT. Continue reading "SEC Proposes Changes to Open-End Fund Liquidity..." »

The SEC has updated its list of unregistered entities that use misleading information to solicit investors. The Public Alert: Unregistered Soliciting Entities (PAUSE) list now has an additional 35 soliciting entities, four impersonators of genuine firms, and four bogus regulators. Continue reading "SEC Updates PAUSE List" »

On November 7th, the SEC released drafts of the 2023 updates to its reporting taxonomies, including updates as part of the annual review and update process for all SEC taxonomies accepted in the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. The Draft 2023 Release Notes contain more information concerning the specific changes in the 2023 update. The draft taxonomies are open to public review to gather feedback to continue to improve the process for creating and using structured filings. Continue reading "SEC Releases 2023 Draft Taxonomies" »

The FERC has announced the schedule for its open meetings for calendar year 2023. Meetings occur on the third Thursday of every month, unless otherwise indicated, with the exception of August. Continue reading "FERC Releases Open Meeting Schedule for 2023" »

The SEC adopted amendments to Form N-PX on November 2nd. These changes will enhance the proxy vote information that mutual funds, exchange-traded funds, and certain other registered funds report by making proxy voting records more usable and easier to analyze. This will in turn enhance investors’ ability to monitor how funds vote and compare different funds’ voting records. In addition, institutional investment managers will be required to disclose how they voted on executive compensation (“say-on-pay”) matters, which fulfills one of the remaining rulemaking mandates under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Continue reading "SEC Enhances Proxy Voting Disclosure and..." »

To help filers avoid missing deadlines and reduce online traffic around crucial filing dates, the SEC releases a filing schedule detailing when it expects to receive the highest volume of EDGAR filings. The 2023 schedule is now available from the SEC. Continue reading "SEC Releases 2023 Peak Filing Volume Dates for..." »

The SEC recently adopted amendments that will require an exchange-listed issuer to adopt a compensation recovery policy required by Rule 10D-1 of the Securities Exchange Act. The issuer must also disclose information about the application of its Rule 10D-1 compensation recovery policy and any recovery pursuant to such policy. This disclosure must be submitted in Inline XBRL. Continue reading "SEC Releases New Draft ECD Taxonomy and Guide" »

On October 26th, the SEC proposed a new rule and associated amendments under the Investment Advisers Act of 1940 that would prohibit registered investment advisers from outsourcing certain services and functions unless that investment adviser has performed the necessary due diligence. In addition, investment advisers who choose to outsource these services must monitor the service providers. Continue reading "SEC Proposes Oversight Rules for Some..." »

The SEC has adopted rules to require securities exchanges to implement new compensation recovery listing standards. These standards will require issuers who list securities on these exchanges to develop and implement a policy providing for the recovery of erroneously awarded incentive-based compensation received by current or former executive officers. The policy would be filed as an exhibit to the listed issuer’s annual report. In addition. the listed issuer must include disclosures related to its recovery policy and provide recovery analysis when a recovery is triggered. Continue reading "SEC Adopts Compensation Recovery Listing..." »

On October 26th, the SEC adopted amendments that will require mutual funds and exchange-traded funds registered on Form N-1A to transmit concise and visually engaging shareholder reports in a structured data format. In addition, these changes will promote transparent and balanced information concerning the fees and expenses related to investing in investment company advertisements. Continue reading "SEC Modernizes Fund Shareholder Reports to..." »