SEC to Update and Remove Unnecessary Disclosure Requirements

By | 11/21/2018 | 2:45 am ET

The Securities and Exchange Commission (SEC) voted in August to adopt amendments designed to simplify and update disclosure requirements. These amendments were aimed to get rid of disclosure requirements that appeared to be duplicative, overlapping, or outdated. These amendments are designed to ease regulatory burdens on issuers, while facilitating disclosure to investors. The amendments became effective on November 5 2018. These amendments are part of a broader initiative from the Division of…

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SEC Final Rules to Modernize Offerings Pursuant to Compensatory Arrangements

By | 08/01/2018 | 2:32 am ET

The Securities and Exchange Commission (SEC), proposed a rule change in July to amend Securities Act Rule 701(e). The rule creates a registration exemption for securities issued by non-reporting companies pursuant to compensatory arrangements. The SEC amendments were required by the Economic Growth, Regulatory Relief, and Consumer Protection Act, and increased the threshold where issuers are required to disclose additional information from $5 million to $10 million of the aggregate…

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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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New SEC Disclosure Changes on Form N-PORT

By | 06/27/2018 | 2:35 am ET

In June, the Securities and Exchange Commission (SEC) adopted new public liquidity-related disclosure requirements for several open-end funds. These disclosure changes would now require funds to disclose, in either their annual or semi-annual shareholder report, the operations and effectiveness of their liquidity risk management programs. These amendments would replace the current pending requirement that funds provide a quantitative description of past aggregate liquidity classification data on Form N-PORT. Form N-PORT…

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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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