On June 11th, the SEC and US Commodity Futures Trading Commission (CFTC) voted to extend the compliance date to October 1, 2025, for the amendments to Form PF that were adopted in February 2024 to enhance the Financial Stability Oversight Council's ability to monitor systemic risk and to improve the SEC's regulatory oversight of private fund advisers and investor protection efforts. The original compliance date for the rulemaking was March 12, 2025, but was previously extended to June 12, 2025. Continue reading "SEC Announces Further Extension of Form PF..." »

On June 2nd, the SEC's Division of Economic and Risk Analysis (DERA) published an analysis of custom tags used in XBRL filings submitted by issuers to comply with the 2009 Interactive Data tagging rules that require financial statement information to be reported in XBRL, a structured, machine-readable format. DERA observed trends in filers' use of custom tags in their XBRL exhibits submitted in Forms 10-K and 10-K/A using US GAAP for fiscal years 2022 through 2024. The analysis of these forms indicates a decrease in average custom tag rate for filings across all filer status, while the large accelerated filer category rate remained flat during that period. Continue reading "SEC Publishes US GAAP–XBRL Custom Tags Trend..." »

The SEC has released its draft of the EDGAR® Filer Manual, Volume II: EDGAR Filing (Version 75) to prepare issuers for potential updates to the EDGAR system scheduled to be introduced in EDGAR Release 25.2 on June 16, 2025. The SEC also issues this draft of the EDGAR Filer Manual to solicit comment from the financial reporting community. Continue reading "SEC Issues Current Draft for Release 25.2 of..." »

On May 16th, the SEC's Division of Corporation Finance released a group of Compliance and Disclosure Interpretations (C&DIs), which represent updates to the Division's interpretations of Section 112. Form SF-1, Asset-Backed Securities. Continue reading "SEC Releases Additional Compliance and..." »

On May 14th, the SEC's Office of Public Affairs determined that certain masked data fields on the publicly available reports on Form N-PORT submitted between February 3, 2025, and May 8, 2025, were inadvertently made public on the SEC's EDGAR system. The unmasking occurred as a result of a software update effective February 3, 2025. The masking error has since been rectified and did not affect Form N-PORT filings submitted after May 8, 2025. Continue reading "SEC Releases Statement on Certain Form N-PORT Data" »

On April 16th, the SEC announced that it has extended the effective date and compliance date for Form N-PORT amendments from November 17, 2025, to November 17, 2027, for rules it initially adopted in August 2024. The rulemaking amended reporting requirements on Form N-PORT to provide the SEC and investors with decision-useful information about certain registered investment companies' (funds) portfolio holdings to help evaluate a fund's risks. These reports also promote efficacy in regulatory monitoring and oversight of the fund industry, which benefits fund investors. Continue reading "SEC Extends Effective Date and Compliance Date..." »

XBRL US will hold a webinar that will focus on data quality and corporate disclosures. The webinar will take place on Thursday, May 1, 2025, from 3:00 p.m. to 4:00 p.m. via Zoom. The event is free and open to the public, though registration is required. Continue reading "XBRL US to Host Webinar: Data Quality,..." »

The SEC has adopted rule amendments to require electronic filing or submission of certain forms as well as other filings, submissions, or notices provided by broker-dealers, security-based swap dealers, and major security-based swap participants under the Exchange Act and the Securities Act to be submitted to the EDGAR system using machine-readable, structured data. Accordingly, the SEC has released a draft version of the Broker-Dealers (BKD) XBRL Taxonomy. Continue reading "SEC Releases Draft of Broker-Dealers (BKD)..." »

On March 27th, the SEC approved rulemaking to end its defense of the rules requiring disclosure of climate-related risks and greenhouse gas emissions. The action effectively terminates the SEC’s involvement in the defense of climate change disclosure rules, which were adopted on March 6, 2024, in The Enhancement and Standardization of Climate-Related Disclosures for Investors final rule. The rules created detailed and extensive special disclosure procedures related to climate risks for issuing and reporting companies. Continue reading "SEC Approves Ending Defense of Climate..." »

On March 14th, the SEC announced a six-month extension of the compliance dates for the September 2023 final rule related to the Investment Company Act “Names Rule,” the rulemaking that addresses fund names likely to mislead investors about a fund’s investments and risks. Continue reading "SEC Announces Extension of Compliance Dates for..." »

SEC has announced that beginning April 14, 2025, fee-related filings received between 5:30 p.m. ET and 10:00 p.m. ET will receive notifications and be accepted that same day if they pass validation checks, but they will receive a filing date that corresponds to the next business day. Continue reading "SEC Issues Update for Fee-Related EDGAR Filings..." »

The SEC has released the Small Entity Compliance Guide, a resource developed to help small businesses in understanding and complying with EDGAR Next, the September 2024 rule and form amendments that enhance the security of the SEC’s EDGAR system and improve filers’ ability to access and manage accounts. EDGAR Next applies to all registrants who electronically submit filings on the EDGAR system. This includes entities such as issuers and filing agents as well as individuals, such as officers and directors subject to the requirements of Section 16 of the Securities Exchange Act. Continue reading "SEC Publishes Guide to Facilitate EDGAR Next..." »