Monday, November 01. 2021
SEC to Host Remote Asset Management Advisory Committee Meeting
The SEC is holding a remote meeting of the Asset Management Advisory Committee to discuss matters relevant to the asset management industry. The meeting will include panels and potential recommendations from the Small Advisors and Small Funds Subcommittees as well as the Evolution of Advice Subcommittee. The remote meeting will take place on Wednesday, November 3, 2021, at 10:00 a.m. ET and will be presented live on sec.gov. {expires: 2021-11-04}
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SEC Revises EDGAR Cipher Update Notification
Filers who use third-party custom software solutions to connect to EDGAR were notified that, on November 30th, the SEC would update the ciphers it supports in its Transport Layer Security (TLS) cryptographic protocol. The update will now occur on January 17, 2022.
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Friday, October 29. 2021
FERC Releases 2022 Commission Open Meeting Schedule
On October 7th, FERC released the schedule for its open meetings for calendar year 2022. With the exception of August, the meetings generally take place on the third Thursday of each month. The open meetings are freely accessible by the public in accordance with the Government in the Sunshine Act.
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Wednesday, October 27. 2021
GoFiler Release 5.10b Includes Beta Testing for Form 24F-2
The latest releaseĀ (5.10b) of the GoFiler family of products includes a beta version of the new view for Form 24F-2 for editing Form 24F-2NT as XML. During the beta testing period, filers will be able to create a new submission Form Type 24F-2 and perform basic editing operations. Support for the Save and Open functions has also been added in the release. The Form 24F-2 is expected to be fully operational in time for the December release of GoFiler.
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Monday, October 25. 2021
New Release (5.10b) for the GoFiler Family of Products
Version 5.10b of all applications in the GoFiler Suite has been released. This release contains a number of improvements to XDX editing, including two new features for removing XDX engrams. Additionally, this version also contains beta features for automating the process of logging into the EDGAR System from the Help menu as well as a preview of the functionality for the new Form 24F-2 View for editing Form 24F-2NT as XML. Other changes include improvements to proofing options, reading enhanced acceptance messages, and validation for iXBRL.
Continue reading "New Release (5.10b) for the GoFiler Family of..." »FASB Releases Proposed Changes for 2022 US GAAP Financial Reporting Taxonomy for Review and Comment
On October 1st, the Financial Accounting Standards Board (FASB) issued proposed technical and other conforming changes for the 2022 US Generally Accepted Accounting Principles (GAAP) Financial Reporting Taxonomy and the associated release notes for public comment. The Financial Accounting Foundation (FAF) and the FASB are jointly responsible for the ongoing development and maintenance of the GAAP Financial Reporting Taxonomy (GRT). Along with maintenance of the GRT, technical and other conforming improvements are made in addition to those concerning Accounting Standards Updates issued in 2021. These improvements are now open for public review.
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Friday, October 22. 2021
Novaworks to Host Free Webinar on eForms Systems for FERC Filers
Novaworks will host a virtual seminar to familiarize FERC filers the eForms System, FERC’s new submission portal that accepts XBRL-formatted filings for Forms 1, 1-F, 2, 2-A, 3-Q, 6, 6-Q, 60, and 714. This workshop is intended for energy industry company and utility filers who would like to have more confidence and ease of mind when using eForms to meet FERC’s XBRL submission requirements. The free event will be held Wednesday, November 10th at 3:00 p.m. ET.
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SEC Issues Staff Report on Equity and Options Market Structure Conditions in Early 2021
On October 18th, the SEC staff published Equity and Options Market Structure Conditions in Early 2021, a comprehensive analysis of the January 2021 trading activity of GameStop Corp (GME), the most notable of the “meme stocks”. Meme stocks are stocks that rise dramatically in price over a short period because of a sudden increase in online or social media interest, resulting in an investing surge. The report details such incidents as well as areas that merit further study and potential consideration.
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Wednesday, October 20. 2021
SEC Revises Filing Fee Disclosure and Payment Methods
The SEC voted on October 13th to apply updates to the current methods used to calculate, report, and pay filing fees. The modifications are intended to help automate filing fee calculation and validation and update fee payment options. Importantly, the SEC is introducing a structured data format disclosure requirement concerning fee calculations to most fee-bearing forms.
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SEC Reopens Comment Period for Listing Standards for Recovery of Erroneously Awarded Compensation
The SEC has reopened the comment period for the proposed rules to enforce Section 954 of the Dodd-Frank Act regarding listing standards for the recovery of money erroneously disbursed for incentive-based executive compensation. The proposal would require national securities exchanges to establish listing standards that would mandate that listed companies adopt and comply with a compensation recovery policy, satisfying the requirements of Section 10D of the Exchange Act. This is commonly referred to as a clawback policy.
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Friday, October 15. 2021
Novaworks Opens Beta for XBRLworks for FERC
The first filing deadline for the FERC’s new XBRL mandate is fast approaching. Are you ready?
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SEC Advises Filers on Inappropriate Use of Custom Tags for Operating Lease Right-of-Use Asset Amortization
The SEC’s Division of Economic and Risk Analysis (DERA) recently released an announcement reminding filers to use the standard elements provided in the Generally Accepted Accounting Principles (GAAP) taxonomy to tag data rather than create and use custom tags. The SEC has recognized that, though custom tags accommodate unique conditions in a filer’s individual disclosure, the use of custom tags could potentially impair users’ ability to compare similar data across companies.
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Wednesday, October 13. 2021
XBRLworks Scheduled Maintenance
XBRLworks will be unavailable during scheduled maintenance today, October 13th, from 2:00 p.m. to 5:00 p.m. ET. During this time, the application will be updated to version 0.9d. {expires: 2021-10-14}
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SEC Proposes Amendments to Form N-PX
The SEC has proposed revisions to Form N-PX to broaden the form’s scope and make it easier and more efficient for investors to get vital information from mutual funds, exchange-traded funds, and other funds that report about their proxy votes. Funds have been required since 2003 to file Form N-PX reports to disclose their voting practices for proxy proposals concerning their investments. However, funds may be inconsistent in the way in which they disclose information about their votes, or they may use a format that is not machine readable, which can make it sometimes difficult for investors to analyze reported data. The rule would render funds’ proxy voting records more usable and easier to analyze. In addition, investors would be able to more easily monitor how their funds vote and compare different funds’ voting records.
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Tuesday, October 12. 2021
SEC Announces EDGAR Next and EDGAR Beta
The SEC has announced its plans to introduce a project entitled “EDGAR Next – Improving Filer Access and Account Management”, wherein the SEC is proposing a rule with potential technical changes to the way filers access the EDGAR System to make submissions and how filers manage individuals who make submissions on their behalf.
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