Monday, June 06. 2022

SEC Proposes Rule Updates to Prohibit Misleading or Deceptive Fund Names

On May 25th, the SEC announced that it is proposing amendments to Rule 35d-1 under the Investment Company Act of 1940, the Investment Company Names Rule of 2001 (Names Rule). For a business development company (BDC) or a registered investment company, the name of its firm is an important marketing tool for the fund, and it conveys to investors useful information about the fund. Continue reading "SEC Proposes Rule Updates to Prohibit..." »
Posted by
LeAnn Dey
in Investor Education, SEC, SEC Filing Help, XBRL at 09:30

Tuesday, April 26. 2022

FASB Releases Proposed Taxonomy Implementation Guides for Accounting Changes, Reorganizations, and Reinsurance-Related Disclosures, Seeks Comment

The Financial Accounting Standards Board (FASB) has issued three proposed Taxonomy Implementation Guides (Implementation Guides) based on the US GAAP Reporting Taxonomy. The guides provide additional guidance and further insight for preparers using the taxonomy when creating their XBRL documents. The guides have been assessed by various advisors, including the SEC, industry resource groups, and members of the Taxonomy Advisory Group (TAG), and are neither authoritative nor the result of actions taken by the FASB. Continue reading "FASB Releases Proposed Taxonomy Implementation..." »
Posted by
LeAnn Dey
in FASB News, SEC, SEC Filing Help, US GAAP Taxonomy at 09:55

Tuesday, March 29. 2022

SEC Issues EDGAR 22.1

On March 21, 2022, EDGAR Release 22.1 was released by the SEC. The release included the addition of a new submission form type to EDGARLink Online, orders granting substituted compliance regarding Rule 18a-7, and a new exhibit “EX-99.36 Form 7-R” added to submission form types SBSE-A and SBSE-A/A. The release also updated the EDGAR Filer Manual Appendices B, F and D and made revisions to filing fee disclosure, payment methods, and tagging requirements for Forms N-3, N-4, and N-6 in iXBRL.
Continue reading "SEC Issues EDGAR 22.1" »
Posted by
LeAnn Dey
in EDGAR News, SEC Filing Help at 17:52

SEC Releases 2022 XBRL Taxonomies Update

On March 21st, the SEC upgraded the EDGAR system to Release 22.1. The system now supports the 2022 reporting taxonomies, which are the final versions of the draft taxonomies that were posted by SEC staff for public comment on September 1, 2021. Refer to the final 2022 taxonomies’ Release Notes for details of the changes. Continue reading "SEC Releases 2022 XBRL Taxonomies Update" »
Posted by
LeAnn Dey
in EDGAR News, SEC Filing Help at 17:49

Friday, March 25. 2022

Novaworks Offering Weekend Support

Due to upcoming filing deadlines, Novaworks will be offering extended email support this weekend, March 26 and 27, for the GoFiler family of products and XBRLworks. {expires: 2022-03-28} Continue reading "Novaworks Offering Weekend Support" »
Posted by
The Novaworks Team
in FERC Filing Help, Novaworks News, SEC Filing Help at 19:54

Thursday, March 24. 2022

SEC Proposes Rule Amendments to Improve Climate-Related Disclosure Standards to Benefit Investors

On March 21st, the SEC announced that it is proposing amendments to its rules under the Securities Act and Securities Exchange Act that would make it mandatory for domestic and foreign registrants to include specific climate-related data in their annual reports and registration statements. This data would need to be disclosed in a structured data format. The proposal is open for public comment. Continue reading "SEC Proposes Rule Amendments to Improve..." »
Posted by
LeAnn Dey
in Filing Technology, Investor Education, SEC, SEC Filing Help, XBRL at 14:15

Tuesday, March 08. 2022

GoFiler Online Now Supports Form 24F-2

Last month, Form 24F-2NT was updated to a modern, structured format with the release of EDGAR 21.3. Previously filed as ASCII text, Form 24F-2NT is used by the SEC to validate registration fees paid by issuers. Because the form was filed in plain text, there was a wide range of quality and readability issues. Some filings were formatted nicely while others were difficult to read. By moving to a structured format, filers can provide all of the same information in a standardized form that can be easily read by machines and rendered for viewing by humans. Continue reading "GoFiler Online Now Supports Form 24F-2" »
Posted by
The Novaworks Team
in GoFiler Online Updates, SEC Filing Help at 10:56

Monday, February 21. 2022

SEC Proposes Amendments to Update Beneficial Ownership Reporting

The SEC announced on February 9th that it is proposing to amend certain rules that govern beneficial ownership reporting under Exchange Act Sections 13(d) and 13(g). The rules would enhance disclosure requirements, reduce information imbalances and provide more timely information to meet the needs of investors and the market.

Continue reading "SEC Proposes Amendments to Update Beneficial..." »
Posted by
LeAnn Dey
in SEC, SEC Filing Help at 16:58

Monday, February 14. 2022

SEC Provides Guidance Regarding Proper Tagging for Finance Lease Liability, Future Payments, and Excess Amount of the Future Payments Over the Finance Lease Liability

The SEC’s Division of Economic and Risk Analysis (DERA) has observed that some filers are not appropriately tagging disclosures about their finance lease liability, undiscounted future lease payments, and the excess amount of the undiscounted future lease payments over the finance lease liability (for example, imputed interest). DERA is providing guidance to filers to address some of this mistakes. Continue reading "SEC Provides Guidance Regarding Proper Tagging..." »
Posted by
LeAnn Dey
in DERA, SEC Filing Help, US GAAP Taxonomy at 10:03

Friday, February 11. 2022

SEC Advises on Filing Agent/Filer Software Adjustment for Upcoming EDGAR Change

The SEC has announced that on or about April 4th, it will introduce a change to the EDGAR filing websites (EDGAR Link Online and Online Forms) that will affect the way certain third-party software may communicate with these websites. EDGAR will develop a unique parameter that some third-party software products may need to include in each request that enters/updates data. EDGAR will both verify the existence and validity of the parameter in filers’ requests and end user sessions if the value of the parameter is missing or mismatched. Continue reading "SEC Advises on Filing Agent/Filer Software..." »
Posted by
LeAnn Dey
in EDGAR News, Filing Technology, SEC, SEC Filing Help at 11:34

SEC Proposes Rule Amendments for Investor Protections in Communication Protocol Systems and ATSs

On January 26th, the SEC proposed rules to enhance investor protections and improve cybersecurity by bringing more Alternative Trading Systems (ATS) that trade treasuries and other government securities under the regulatory heading. This proposal builds upon the September 2020 proposal for ATSs and feedback received in response to that proposal. The SEC is also re-proposing amendments to Registration Systems Compliance and Integrity (Regulation SCI) to apply it to ATSs that meet certain volume thresholds in US Treasury Securities or Agency Securities. Continue reading "SEC Proposes Rule Amendments for Investor..." »
Posted by
LeAnn Dey
in SEC, SEC Filing Help at 09:20

Monday, January 31. 2022

Important Notice Regarding Fee-Bearing Forms

The SEC has released a change to the EDGAR System today, January 31st. This change affects forms with fees. Filers who need to file particular fee-bearing forms today must take action to ensure proper submission. {expires: 2022-02-01} Continue reading "Important Notice Regarding Fee-Bearing Forms" »
Posted by
The Novaworks Team
in GoFiler Updates, SEC Filing Help at 10:20

Friday, January 28. 2022

The Divisions of Corporation Finance and Investment Management Provide Guidance Regarding the Use of Paper “Courtesy Copies”

The Divisions of Corporation Finance and Investment Management receive paper “courtesy copies” of materials from many individuals and entities when they file or submit via EDGAR, email, online form or other electronic methods of communication. Registrants frequently send marked copies of amendments to registration statements or copies of electronically filed registration statements showing modifications from previously submitted or filed versions. Continue reading "The Divisions of Corporation Finance and..." »
Posted by
LeAnn Dey
in Corporation Finance, Investment Management, SEC Filing Help at 13:25

XBRL US to Hold Virtual Data Quality Committee Meeting

XBRL US’ Data Quality Committee (DQC) will host a virtual meeting for industry leaders to further engage in discussions and plans to establish rules and guidance for public corporations complying with the SEC’s XBRL requirements. The webinar will take place on Wednesday, March 23, 2022, from 9:00 a.m. to 12:00 p.m. EST. {expires: 2022-03-24} Continue reading "XBRL US to Hold Virtual Data Quality Committee..." »
Posted by
LeAnn Dey
in Data Quality Committee, Events, SEC, SEC Filing Help, XBRL at 07:40

Monday, January 24. 2022

SEC Issues Guidance for Filers Using Incorrect Context Dates for Reported Facts

On January 14th, staff in the SEC’s Division of Economic and Risk Analysis noted that some filers were using incorrect context dates when tagging fact values in Forms 10-K and 10-Q. Continue reading "SEC Issues Guidance for Filers Using Incorrect..." »
Posted by
LeAnn Dey
in Filing Technology, SEC Filing Help at 10:40
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