SEC Announces First Fee Rate Advisory for Fiscal Year 2024

By | 09/18/2023 | 2:57 am ET

The Securities and Exchange Commission (SEC) has recently released an important update regarding the fee rates for the fiscal year 2024, providing valuable information to market participants and investors. As a leading regulatory body in the securities industry, the SEC plays a crucial role in collecting fees from various market participants to fund its operations. The Fee Rate Advisory for fiscal year 2024 offers clarity on the fees that will…

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XBRL Applauds the New Data Standards in the FDTA

By | 01/25/2023 | 3:11 pm ET

In December of 2022, President Biden signed H.R. 7776 into law. Titled the James M. Inhofe National Defense Authorization Act for Fiscal Year 2023, the act includes TITLE LVIII, the Financial Data Transparency Act, usually shortened to FDTA. The FDTA requires member agencies of the U.S. Financial Stability Oversight Council to follow strict data standards. These member agencies include the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller…

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iXBRL Filings: What Are They and When Are They Mandatory?

By | 04/30/2022 | 2:57 pm ET

It is important for all companies to make sure they are in compliance with SEC rules and regulations, and this includes iXBRL filings. Companies that are not in compliance with iXBRL filings run the risk of facing fines and sanctions from the SEC. What exactly are iXBRL filings, and when are they required? Take a look at a few important points below, and do not hesitate to reach out to…

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SEC Passes Inline XBRL

By | 07/20/2018 | 7:52 pm ET

In a 4-1 vote on June 28, 2018, the Securities and Exchange Commission (SEC) voted to adopt several amendments to the existing XBRL reporting requirements. Instead of the existing requirements which mandate that companies submit XBRL exhibits along with their HTML filings for quarterly and annual financial statements, companies can now submit Inline XBRL filings. Instead of a dual filing system with both human and machine-readable filings, companies are now…

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Finding an SEC Filing Agent for XBRL Filings

By | 03/15/2018 | 4:29 pm ET

When looking for the best SEC filing agent to handle your SEC filing needs, most filers seek a company that offers not only competitive pricing, but also professional quality services. Although competitive SEC filing fees should be expected, professional quality output, reliability, accuracy, and good customer service should be more important for you and your company.  Here at Colonial Filings, we offer a variety of financial printing services that are…

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Benefits of XBRL Reporting to the SEC

By | 10/18/2017 | 9:49 pm ET

XBRL is an electronic language for financial reporting that is freely licensable, and based on XML framework. It acts as the standard in the financial circles for preparing, publishing in various formats, extracting and automatically exchanging financial statements of publicly-held companies and the information contained in them. XBRL filing requirements enhance the usability of the current accounting standards through digitizing business languages without creating new accounting standards and do not…

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4 Important Facts Concerning iXBRL

By | 06/13/2017 | 7:15 pm ET

After much speculation, the Securities and Exchange Commission (SEC) has released the long-awaited proposal requiring public companies based in the United States to utilize Inline XBRL (iXBRL) when submitting their financial statements and other public documents. So what do you need to know about this proposal? 1. How iXBRL works:  Inline XBRL is an updated version of the XBRL reporting format. This new format embeds HTML tags into different financial…

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Detailed Analysis of XBRL Filings

By | 06/01/2014 | 5:08 pm ET

Recently, we performed a side by side comparison and analysis of recently filed XBRL filings by our competitors. As shown in the analysis, there could be many tags that are either unnecessary or incorrect. These types of errors can hurt public companies that are earnestly trying to maintain proper data quality. Moreover, investors, analysts, auditors, and creditors may be skeptical about the quality of the rest of the filing. The oversight of incorrectly placing tags is something…

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