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SEC Developments -- “Small” Public Companies, and Data Tagging (XBRL) SEC Developments Discussed NEW!

Release No. 33-10444: Adoption of Updated EDGAR Filer Manual 

Release No. 33-10385: Adoption of Updated EDGAR Filer Manual 

Adoption of Updated EDGAR Filer Manual

Inline XBRL Filing of Tagged Data 

Adoption of Updated EDGAR Filer Manual

Adoption of Updated EDGAR Filer Manual

Adoption of Updated EDGAR Filer Manual 

Articles

SEC Developments -- “Small” Public Companies, and Data Tagging (XBRL) SEC Developments Discussed

We have published a new edition of the GAAP Update Service. This new edition discusses recent SEC developments related to small public companies and XBRL data tagging. On June 28, 2018, the SEC amended two rules that

affect a broad cross-section of SEC registrants:

  • Small Public Company Threshold – By changing the quantitative thresholds that define a “smaller reporting company,” more public companies are eligible to use the SEC’s reduced disclosure requirements.
  • Data Tagging (XBRL) - These changes require operating companies and funds to embed XBRL tags directly into their SEC filings. The new data tagging requirements (“Inline XBRL” or “iXBRL”) phase in over three years. As a result of the new approach to data tagging, one document is readable by both humans and machines. Previously, XBRL formatted data was provided separately.

For more information, click here.

© 2018 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

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Release No. 33-10444: Adoption of Updated EDGAR Filer Manual

Summary - The SEC adopted revisions to the Electronic Data Gathering, Analysis, and Retrieval System ("EDGAR") Filer Manual and related rules to reflect updates to the EDGAR system. Among other things, the manual has been updated to allow, but not require, asset-backed securities filers to submit a combined Form 10-D and Form ABS-EE. The manual has also been updated to allow, but not require, national securities exchanges to submit a new certification form type on EDGAR to evidence the approval of securities for listing on an exchange.
 
The EDGAR Filer Manual contains all the technical specifications for filers to submit filings using the EDGAR system. Filers must comply with the applicable provisions of the manual in order to assure the timely acceptance and processing of filings made in electronic format.
 
This final rule is effective upon publication in the Federal Register.
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For more information, click here.
 
© 2018 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

Release No. 33-10385: Adoption of Updated EDGAR Filer Manual

Summary - The SEC has adopted revisions to the Electronic Data Gathering, Analysis, and Retrieval System ("EDGAR") Filer Manual (Manual) and related rules to reflect updates to the EDGAR system. The updates are being made primarily to reflect amendments made to several SEC forms for inflation adjustments and other technical amendments required under Titles I and III of the Jumpstart Our Business Startups Act. This update also reflects updates to support recent changes to securities offering Forms C and D.
 
The EDGAR system was scheduled to be upgraded on July 17, 2017.

For more information, click here.
 
© 2017 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

Adoption of Updated EDGAR Filer Manual

Summary - The SEC has issued a final rule, Adoption of Updated EDGAR Filer Manual. This final rule includes revisions to the Electronic Data Gathering, Analysis, and Retrieval System (EDGAR) Filer Manual and related rules to reflect updates to the EDGAR system. The updates are being made primarily to support an upgrade to the passphrase authentication process and update the recommended Internet browser language for all EDGAR websites.
 
This final rule is effective upon publication in the Federal Register.

For more information, click here.
 
© 2017 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

Inline XBRL Filing of Tagged Data

Summary - The SEC has issued for public comment a proposal to require the use of the Inline XBRL format for the submission of operating company financial statement information and mutual fund risk/return summaries. The proposed amendments are intended to improve the data's quality, benefiting investors, other market participants, and other data users, and to decrease, over time, the cost of preparing the data for submission to the SEC. The proposed amendments would also eliminate the requirement for filers to post Interactive Data Files on their websites and terminate the Commission's voluntary program for the submission of financial statement information interactive data that is currently available only to investment companies and certain other entities.
 
Comments on the proposal are due 60 days from publication in the Federal Register.

For more information, click here.
 
© 2017 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

Adoption of Updated EDGAR Filer Manual

Summary - The SEC has issued a final rule, Adoption of Updated EDGAR Filer Manual. This final rule includes revisions to the Electronic Data Gathering, Analysis, and Retrieval System (EDGAR) Filer Manual and related rules to reflect updates to the EDGAR system. The updates are being made primarily to support an upgrade to the passphrase authentication process and update the recommended Internet browser language for all EDGAR websites.

This final rule is effective upon publication in the Federal Register.

For more information, click here.

© 2017 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

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Adoption of Updated EDGAR Filer Manual

Summary - The SEC has issued the final rule, Adoption of Updated EDGAR Filer Manual. This final rule includes revisions to the Electronic Data Gathering, Analysis, and Retrieval System (EDGAR) Filer Manual and related rules to reflect updates to the EDGAR system. The updates are being made primarily to support the submission of Municipal Advisor submission form types in filer-constructed Extensible Markup Language (XML) format.

For more information, click here.

© 2017 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

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Adoption of Updated EDGAR Filer Manual 

Summary - The SEC has issued a Final Rule, Adoption of Updated EDGAR Filer Manual. This final rule includes revisions to the Electronic Data Gathering, Analysis, and Retrieval System (EDGAR) Filer Manual (EDGAR Filer Manual) and related rules to reflect updates to the SEC's EDGAR system. The updates are being made primarily to support the submission of asset-backed securities (ABS) related form types by registrants whose Standard Industrial Classification code is not 6189. In addition, the final rule includes amendments to terminate support for certain U.S. GAAP taxonomies and to allow certain filers to use "inline XBRL" in their related official filing.
For more information, click here.

© 2016 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.