The SEC will be closed Monday, May 27 in observance of Memorial Day. The EDGAR System will not receive, process or accept filings on this day. Filings with a due date of May 27 will be due the following business day. Novaworks will also be closed on Memorial Day.

Starting with their first 10-Q filed for a fiscal period ending on or after June 15, large accelerated filers will be required to submit interactive data using Inline XBRL. Included in this transition are the new requirements, adopted by the SEC in March as part of the FAST Act Modernization and Simplification of Regulation S-K, to tag additional information that is visible on the cover page of Form 10-Q, Form 10-K and Form 8-K.

On May 10th, the SEC proposed a new package of rule amendments and interpretive guidance to better the framework for regulating cross-border security-based swaps transactions and market participants. Intended to improve regulation by pragmatically addressing implementation issues and efficiency concerns, the proposed rules will further harmonize the regulatory regime governing security-based swaps administered by the SEC with the regulatory regime administered by the Commodity Futures Trading Commission (CFTC). These rules primarily pertain to security-based swap dealers and major security-based swap participants (SBS Entities).

The SEC has released the draft version of the 2019 DEI taxonomy for public review. This taxonomy contains the elements required for the tagging of cover page data for Inline XBRL submissions and is open for public comment until June 6, 2019.

The SEC voted on May 9th to propose amendments to the accelerated filer and large accelerated filer definitions. These amendments would reduce costs for certain lower-revenue companies by more appropriately tailoring the types of companies that are categorized as accelerated and large accelerated filers while maintaining effective investor protections. Under these new amendments to Exchange Act Rule 12b-2, smaller reporting companies with less than $100 million in revenues would not be required to obtain an attestation of their internal control over financial reporting from an independent outside auditor. The key protections from the Sarbanes-Oxley Act of 2002, including independent audit committee requirements, CEO and CFO certifications of financial reports, and the requirement that companies continue to establish, maintain, and assess the effectiveness of their internal control, would not be altered by the proposed changes.

On May 3rd, the SEC proposed rule amendments to improve information that investors receive regarding the acquisition and disposition of businesses. The proposed amendments are also intended to facilitate more timely access to capital and reduce complexity and compliance costs.