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 These amendments were aimed to get rid of disclosure requirements that appeared to be duplicative, overlapping, or outdated.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 Extends Qualifications for SRC’s and Scaled Disclosures

By | 07/20/2018 | 7:57 pm ET

The Securities and Exchange Commission (SEC) expanded the number of companies that qualify as a “smaller reporting company” (SRC) and the existing scaled disclosure accommodations for these SRC’s. The SEC estimates that approximately 1000 companies will now qualify for the scaled disclosures. Scaled disclosures enable companies to provide less information, specifically for executive compensation and only submit audited financial statements for two fiscal years, compared to the three fiscal years…

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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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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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