This week the US Securities and Exchange Commission (SEC) held a (virtual) meeting of the Asset Management Advisory Committee. Amongst other topics, on the agenda were questions of private investments in relation to Environmental, Social and Governance (ESG) issues. SEC Chairman Jay Clayton introduced the committee by underlining why, for him, the current system of […]
Of relevance to software vendors working with US filings, this week the US Securities and Exchange Commission (SEC) updated its interactive data test suite in order to help software vendors to produce filings that conform to the rules set out in the Edgar Filing Manual. The test suite is a way of expressing those rules in […]
Should the US Securities and Exchange Commission (SEC) do away with tables consisting of information that can be compiled elsewhere? This week CFA Institute’s Mohini Singh, ACA, outlines the CFA and Council of Institutional Investor’s arguments against some of the SEC’s proposed updates to Management Discussion and Analysis (MD&A). Their response highlights that although many of […]
This is a guest post by Ms Mohini Singh, ACA, Director Financial Reporting Policy at CFA Institute. CFA Institute and the Council of Institutional Investors responded to the Securities and Exchange Commission’s Proposed Rule: Management’s Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information. Many of the Commission’s proposals recommend the elimination of information that […]
XBRL US has published a comment letter encouraging the US Securities and Exchange Commission (SEC) to include XBRL tagging in recent proposals to modernise Management’s Discussion and Analysis (MD&A) disclosures. Other parts of the world often call these disclosures “Management Commentary”. Earlier this year the SEC proposed a number of reforms to modernise, enhance and simplify […]
This week the XBRL US Data Quality Committee (DQC) published its 12th Ruleset for public review.
“Forward Looking Statements” have a specific meaning in securities law and regulation. Academic, regulatory and market literature is filled with the pros and cons of companies providing information in their financial statements that help users understand what might impact future earnings and cashflows and that isn’t based on historical facts. If in January you had […]
Toppan Merrill’s Dimensions magazine recently spoke with Scott Bauguess, who drew on his 12 years in various roles at the US Securities and Exchange Commission (SEC) to provide insight into the SEC’s use of XBRL. Bauguess has spanned a number of roles at the SEC, most recently as the Deputy Director and Deputy Chief Economist in the […]
It’s great to see that the US Securities and Exchange Commission (SEC) is doubling down on its commitment to digital disclosures across a wide area. This week the SEC adopted an amendment mandating Inline XBRL reporting for closed-end investment companies. Today’s modern securities regulators need well defined, searchable, structured and digital data. The Securities Offering Reform […]
While COVID-19 has been causing delays and adjustments to financial reporting regimes around the world, ensuring that financial reporting, when it is submitted, remains high quality is vital. This week Sagar Teotia, Chief Accountant at the US Securities and Exchange Commission (SEC), delivered a public statement underlining the importance of high-quality reporting during the crisis. […]
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