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March

SEC proposes use of inline XBRL format

Mar 02, 2017

The SEC has issued a proposed rule, “Inline XBRL Filing of Tagged Data.”

The proposal would “require the use of Inline XBRL format for the submission of operating company financial statement information and mutual fund risk/return summaries.” In addition, “the requirement for filers to post XBRL data on their websites” would be eliminated.

Comments on the proposed rule are due by May 16, 2017.

For more in­for­ma­tion, see the press release and proposed rule on the SEC’s Web site.

SEC issues guidance on exhibit hyperlinks and HTML format

Mar 02, 2017

The SEC has issued a final rule, “Exhibit Hyperlinks and HTML Format.”

The final rule requires “registrants that file registration statements or reports subject to the exhibit requirements under Item 601 of Regulation S-K, or that file Forms F-10 or 20-F, to include a hyperlink to each exhibit listed in the exhibit index of these filings, and to submit such registration statements and reports on EDGAR in HyperText Markup Language (HTML) format.”

The final rule will become effective on September 1, 2017.

For more in­for­ma­tion, see the press release and final rule on the SEC’s Web site.

SEC announces availability of XBRL IFRS taxonomy

Mar 01, 2017

The SEC has announced the availability of the XBRL taxonomy for use by foreign private issuers that submit their financial statements in accordance with IFRSs.

For more information, see the press release and notice on the SEC’s Web site.

FAF trustees announce GASB reappointment and appointment

Mar 01, 2017

The FAF board of trustees has appointed a new member to the GASB, Kristopher E. Knight, and has reappointed board member James E. Brown to a second term.

Mr. Brown’s and Mr. Knight’s five-year terms will begin on July 1, 2017, and end on June 30, 2022. Mr. Knight will succeed Jan I. Sylvis, whose term concludes on June 30, 2017.

For more information, see the press release on the FAF’s Web site.

SEC proposes rule on municipal securities disclosures

Mar 01, 2017

The SEC has issued a proposed rule, “Proposed Amendments to Exchange Act Rule 15c2-12.”

The proposed rule is intended “to improve investor protection and enhance transparency in the municipal securities market.” The proposal would amend “the list of event notices that a broker, dealer, or municipal securities dealer acting as an underwriter in a primary offering of municipal securities subject to the Rule must reasonably determine that an issuer or obligated person has undertaken, in a written agreement for the benefit of holders of municipal securities, to provide to the Municipal Securities Rulemaking Board within ten business days of the event’s occurrence.”

Comments on the proposed rule are due by May 15, 2017.

For more in­for­ma­tion, see the press release and proposed rule on the SEC’s Web site.

SEC seeks comments on statistical and other disclosures by bank holding companies

Mar 01, 2017

The SEC has issued "Request for Comment on Possible Changes to Industry Guide 3."

The request for comments asks for feedback on the following topics:

  • “Existing disclosure guidance for bank holding companies called for by Guide 3, as well as other sources of disclosure for bank holding companies and other registrants in the financial services industry.”
  • “Potential improvements to the disclosure regime, which could include new disclosures, the elimination of duplicative or overlapping disclosures, or revisions to current disclosures.”
  • “The scope and applicability of Guide 3.”
  • “The effects of regulation on bank holding companies, including with regard to their operations, capital structures, dividend policies and treatment in bankruptcy.”

Comments were originally due by May 8, 2017; the SEC extended the comment deadline to July 7, 2017.

For more in­for­ma­tion, see the press release and request for comments on the SEC’s Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.