The SEC has announced that it has released its draft of the EDGAR® Filer Manual, Volume II: “EDGAR Filing” (Version 65). This draft Volume II of the EDGAR Filer Manual is accessible to filers in anticipation of feedback, and to help issuers prepare for potential modifications to the EDGAR system detailed in the draft and scheduled to be implemented in EDGAR Release 23.1 on March 20, 2023. Continue reading "SEC Releases New Draft EDGAR Filer Manual for..." »

On March 1st, the SEC announced that it has determined that a mid-year adjustment to the Section 31 fee rate for fiscal year 2023 is not required. The fee rates that apply to most securities transactions will remain at the current rate of $8.00 per million (as previously announced in January 2023). The rate will remain in place until September 30, 2023 or 60 days following the passing of a regular FY 2024 appropriation, whichever is later. Additionally, the Section 31 assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction. Continue reading "SEC Issues Fee Rate Advisory #3 For Fiscal Year..." »

On February 21st, the SEC announced that it is adopting an amendment to Regulation S-T to extend the filing deadline for Form 144. The SEC is also adopting technical amendments to improve the consistency of recently updated provisions related to the filing format of Form 144. Continue reading "SEC Approves Final Rules to Extend Form 144..." »

The SEC has proposed new rule changes under the Investment Advisers Act of 1940, under which investment advisers are regulated. The changes are designed to improve protections of investor assets managed by investment advisers registered with the SEC. Pursuant to the act, the proposed new safeguarding rule would also revise and renumber current custody rule 206(4)-2. Additionally, the SEC is proposing amendments to the recordkeeping rule under the Act and to Form ADV for investment adviser registration under the Act.

Continue reading "SEC Proposes Amendments to Enhance Safeguarding..." »

The SEC has announced a virtual Investor Advisory Committee meeting that will take place on Thursday, March 2, 2023, at 10:00 a.m. ET. The public may attend this free event, which will be presented live via webcast at sec.gov. {expires: 2023-03-03} Continue reading "SEC Staff to Hold Investor Advisory Committee..." »

The SEC has adopted final rules related to the duration of the standard settlement cycle for most broker-dealer transactions, as well as the processing of institutional trades by broker-dealers and certain clearing agencies. Additionally, the SEC is amending certain recordkeeping requirements applicable to registered investment advisers. Continue reading "SEC Adopts Rules to Reduce Risks in Clearance..." »

On February 15th, the Financial Accounting Standards Board (FASB) published a proposed GAAP Taxonomy Reference Style Guide and updated the GAAP Frequently Asked Questions (FAQ) section to include new guidance on tagging. Continue reading "FASB Proposes GAAP Taxonomy Reference Style..." »

The SEC’s Division of Corporation Finance announced that it has updated sections of its Compliance & Disclosure Interpretations (C&DIs), which make up the Division’s interpretations for Regulation S-K. The revisions include new questions and answers in Section 128D and updates to certain sections of Section 228D of Regulation S-K. Continue reading "SEC’s Division of Corporate Finance Publishes..." »

The SEC will be closed Monday, February 20th in observance of Presidents’ Day. The EDGAR System will not receive, process, or accept filings on this day. Filings with a due date of February 20th will be due the following business day, Tuesday, February 21st. The FERC will also be closed in observance of the federal holiday. eForms will accept filings submitted on February 20th. {expires: 2023-02-21} Continue reading "SEC Closed Monday, February 20" »

On February 14th, the SEC proposed a rule that would modify its regulations under the Privacy Act of 1974, the primary law that regulates how personal information is handled within the federal government. The existing rules include procedures for making Privacy Act requests, such as requests for the accessing and amending of records related to the individual making the request. The proposed rule is intended to clarify, modernize and enhance the language of a number of procedural provisions. Continue reading "SEC Announces Rule Proposal to Update Privacy..." »

Novaworks will host a virtual seminar to help filers adjust to the changes associated with the SEC’s adoption of final rules regarding Pay Versus Performance, the Executive Compensation Disclosure, and the disclosure of the recovery of erroneously awarded compensation (clawbacks). This webinar is specifically designed for filers who would like to have certainty and ease of mind when complying with the SEC’s XBRL submission requirements. The free event will be held Wednesday, February 22, 2023, at 2:00 p.m. ET. {expires: 2023-02-23} Continue reading "Novaworks to Host Free Webinar on Pay Versus..." »

On February 7th, SEC’s Division of Examinations issued its 2023 examination priorities, the publication that  details the Division’s risk-based approach, including the areas it believes may present possible risks to the integrity of the US capital markets and investors. When compiling the examination priorities, the Division is guided by its objectives to promote and improve compliance, prevent fraud, monitor risks, and inform policy. Continue reading "SEC’s Division of Examinations Releases 2023..." »

SEC staff in the Division of Investment Management and the Division of Trading and Markets will hold an open meeting via webcast on sec.gov to address the topics of Shortening the Settlement Cycle and Safeguarding Advisory Client Assets. The meeting will take place on Wednesday, February 15, 2023, at 10:00 a.m. ET and is free and open for the public to attend. {expires: 2023-02-16} Continue reading "SEC’s Division of Investment Management and..." »

The SEC has reminded affected filers about the April 13, 2023 compliance deadline for transitioning from paper filing to electronic filing for Form 144. In accordance with the SEC’s June 2022 adopted amendments concerning EDGAR filing requirements, certain Form 144 filings must be made on the SEC’s EDGAR system, for which filers must ensure that they have an account. The electronic filing requirement applies to all Form 144 filings except for related to securities of issuers that do not file 1934 Act reports with the SEC on EDGAR. Continue reading "SEC Issues Reminder of Upcoming Form 144..." »