On November 17th, the SEC revised rules to allow shareholders to vote for their preferred combination of board nominees in contested elections. Under new Rule 14a-19, it will be mandatory for management or shareholders to use universal proxy cards when soliciting proxy votes for their own candidates in contested director elections. The rule requires that universal proxy cards list the names of all director candidates for an election at an upcoming shareholder meeting, whether or not the candidates were nominated by management or shareholders. Much like voting in person, the modifications will provide shareholders equal voting opportunity even when voting by proxy. Continue reading "SEC Approves New Rules for Universal Proxy..." »

On November 17th, the SEC voted to propose amendments to its rules governing proxy voting advice. The proposed updates are designed to address the concerns of investors and other parties that the existing rules may subject proxy advisory firms to both unnecessary litigation risks and compliance costs, which may hinder the timeliness and independence of proxy voting advice. Continue reading "SEC Proposes New Amendments to Proxy Rules..." »

The SEC has announced a virtual Investor Advisory Committee meeting that will take place on Thursday, December 2, from 10:00 a.m. until 4:00 p.m. ET. The public may attend this free event, which will be presented live via webcast at sec.gov. {expires: 2021-12-03} Continue reading "SEC to Host Investor Advisory Committee Meeting" »

XBRL US has announced that it will host a webinar on Thursday, December 2, at 1:00 p.m. ET to discuss the 17th Ruleset published by the Data Quality Committee (DQC) on November 15th. The rule set includes three new rules for US GAAP filers, two new rules for IFRS filers, and three rules for both US GAAP and IFRS filers. {expires: 2021-12-03} Continue reading "XBRL US to Host Webinar: DQC 17th Ruleset..." »

On November 15th, the XBRL US Center for Data Quality (DQC) announced the opening of the 17th public exposure period for review and comment on eight new automated checks, including modifications to rules for filers using the US GAAP or IFRS taxonomies. The DQC rulesets are intended to improve the accuracy and integrity of XBRL financial reports that use these taxonomies. {expires: 2022-01-01} Continue reading "XBRL US DQC Releases Ruleset 17" »

On November 1st, the Financial Accounting Standards Board (FASB) issued proposed improvements to references for the 2022 US GAAP Financial Reporting Taxonomy (GRT) and proposed improvements for the Accounting Standards Update (ASU) on Interim Financial Disclosure Requirements. These changes are intended to improve the usability of the taxonomy and enhance financial statement disclosures. Continue reading "FASB Seeks Comment on Proposed Improvements for..." »

The Financial Accounting Standards Board (FASB) will host its semiannual webcast, titled “IN FOCUS: FASB Update for Private Companies and Not-for-Profit Organizations”, which will outline its standard-setting efforts. The event takes place on Monday, December 13, 2021, from 1:00 p.m. to 3:05 p.m. ET. The event is free and open to the public but registration is required. {expires: 2021-12-14} Continue reading "FASB Announces Virtual Semiannual Update on Its..." »

On November 5th, the SEC announced that it has adopted the Public Company Accounting Oversight Board’s (PCAOB) Rule 6100, Board Determinations Under the Holding Foreign Companies Accountable Act (HFCAA). The rule introduces the structure for the PCAOB’s findings under the HFCAA and underscores investor protection measures Continue reading "SEC Adopts PCAOB Rule 6100 Establishing..." »

XBRL US has announced that it will hold a free webinar discussing the advantages of structured data in financial reporting. The webinar is geared toward investors, analysts, regulators, industry professionals, and interested parties. The online seminar will be held on Wednesday, November 10th from 12:30 p.m. to 5:00 p.m. ET and will feature real-world case studies about how corporate financial planners and SEC managers are better able to identify trends in financial reporting. {expires: 2021-11-11} Continue reading "XBRL US to Present Webinar on the Benefits of..." »

On November 4th, the SEC announced that it is proposing rule and form amendments to update filing requirements that would affect issuers, registered investment advisors, institutional investment managers, and others that file or submit reports to the SEC on EDGAR. These changes are intended to increase efficiency, transparency, and operational resiliency of the filing process by updating the way data is submitted to the SEC and disclosed. Continue reading "SEC Announces Proposed Amendments to Electronic..." »

The SEC has announced that its Small Business Capital Formation Advisory Committee will hold a remote meeting to discuss matters related to the rules and regulations affecting small and emerging companies and their investors under the federal securities laws. The free webcast will take place on Tuesday, November 16, 2021, from 10:00 a.m. to 2:30 p.m. ET. The event is open to the public and will be presented live on sec.gov. {expires: 2021-11-17} Continue reading "SEC to Hold Virtual Small Business Capital..." »