Earlier this year the SEC introduced the FAST Act, which aimed to modernise and simplify disclosures with a number of measures including mandating Inline XBRL tagging for the cover sheets of key documents. This small but useful change introduces comparable, machine-readable index information, improving market access to data, even for documents that are not otherwise […]
The SEC’S Chief Economist and Director, S.P. Kothari, made a speech this summer highlighting how standardisation can help tackle the challenges presented by big data. While big data is certainly not a new concept, the digital era has accelerated data collection immensely, with some estimates indicating that the world now generates more data every two days than all of […]
The SEC’s recently expanded requirements to report in Inline XBRL have been met with optimism, with the change being linked to increasing simplicity, improving data quality and use and enabling financial analysis. Craig Clay, president of global capital markets at Donnelley Financial Solutions, has highlighted how companies are looking to automate and streamline compliance reporting, […]
July 18 saw the SEC Staff Roundtable discussing short-termism in public companies and whether the periodic reporting system needs altering to encourage long-term thinking. SEC Chairman Jay Clayton made some salient remarks in his closing comments, highlighting how investment decisions both long and short term rely substantially on timely and high-quality disclosures. To move forward, […]
The Securities and Exchange Commission (SEC) are hosting a roundtable on July 18 to hear from investors, issuers and others on the impact of short-termism on capital markets. An excessive focus on short-term results in corporate thinking could lead to inefficient capital markets, poor investment returns and economic instability – however, the cause of short-termism […]
The SEC have published a trend analysis of taxonomy extensions used in XBRL submissions, showing little change in the overall percentage of filers using extensions – around 18% – between 2017 and 2018. During the same time the number of accelerated filers using extensions did come down slightly, to be more in line with other […]
The SEC have proposed amendments to the accelerated filer and large accelerated filer definitions. The aim is to reduce the reporting burden and compliance costs for low revenue companies by better defining which companies are classified as accelerated and large accelerated filers. The proposed amendments would mean smaller companies – those with less than $100 […]
The Securities and Exchange Commission (SEC) have announced a roundtable to contribute to the ongoing discussion around short-termism in corporate decision making. An excessive focus on short term results could lead to inefficient capital markets, poor investment returns and economic instability – this much is clear, however, the cause of short-termism in corporate thinking is […]
The Securities and Exchange Commission (SEC) has proposed amendments and improvements to disclosure rules relating to mergers and acquisitions (and the sale of business assets) and is now seeking comments. The amendments seek to balance the need to provide investors with the information they need to effectively understand the impact of significant acquisitions or disposals with the […]
Harvard Law School’s Forum on Corporate Governance and Financial Regulation have published a deep dive into the SEC’s most recent disclosure amendments as part of their series on disclosure simplification.
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