Both the SEC and the FERC will be closed Thursday, November 24th in observance of Thanksgiving. The EDGAR System will not receive, process or accept filings on this day. Filings with a due date of November 24th will be due the following business day. eForms will accept filings submitted on November 24th. {expires: 2021-11-28} Continue reading "Thanksgiving Hours" »

The SEC will be closed Friday, November 11, in observance of Veterans Day. The EDGAR System will not receive, process, or accept filings on this day. Filings with a due date of November 11 will be due the following business day. The FERC will also be closed in observation of Veterans Day. eForms will accept filings submitted on November 11th. {expires: 2022-11-12} Continue reading "Veterans Day" »

On November 2nd, the SEC proposed amendments designed to better prepare open-end funds for stressed market conditions and to mitigate potential dilution of shareholders’ interests. These changes should enhance how funds manage their liquidity risks by requiring them to implement liquidity management tools and ensure timely reporting of fund information on Form N-PORT. Continue reading "SEC Proposes Changes to Open-End Fund Liquidity..." »

The SEC has updated its list of unregistered entities that use misleading information to solicit investors. The Public Alert: Unregistered Soliciting Entities (PAUSE) list now has an additional 35 soliciting entities, four impersonators of genuine firms, and four bogus regulators. Continue reading "SEC Updates PAUSE List" »

On November 7th, the SEC released drafts of the 2023 updates to its reporting taxonomies, including updates as part of the annual review and update process for all SEC taxonomies accepted in the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. The Draft 2023 Release Notes contain more information concerning the specific changes in the 2023 update. The draft taxonomies are open to public review to gather feedback to continue to improve the process for creating and using structured filings. Continue reading "SEC Releases 2023 Draft Taxonomies" »

The SEC adopted amendments to Form N-PX on November 2nd. These changes will enhance the proxy vote information that mutual funds, exchange-traded funds, and certain other registered funds report by making proxy voting records more usable and easier to analyze. This will in turn enhance investors’ ability to monitor how funds vote and compare different funds’ voting records. In addition, institutional investment managers will be required to disclose how they voted on executive compensation (“say-on-pay”) matters, which fulfills one of the remaining rulemaking mandates under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Continue reading "SEC Enhances Proxy Voting Disclosure and..." »

To help filers avoid missing deadlines and reduce online traffic around crucial filing dates, the SEC releases a filing schedule detailing when it expects to receive the highest volume of EDGAR filings. The 2023 schedule is now available from the SEC. Continue reading "SEC Releases 2023 Peak Filing Volume Dates for..." »

The SEC recently adopted amendments that will require an exchange-listed issuer to adopt a compensation recovery policy required by Rule 10D-1 of the Securities Exchange Act. The issuer must also disclose information about the application of its Rule 10D-1 compensation recovery policy and any recovery pursuant to such policy. This disclosure must be submitted in Inline XBRL. Continue reading "SEC Releases New Draft ECD Taxonomy and Guide" »

On October 26th, the SEC proposed a new rule and associated amendments under the Investment Advisers Act of 1940 that would prohibit registered investment advisers from outsourcing certain services and functions unless that investment adviser has performed the necessary due diligence. In addition, investment advisers who choose to outsource these services must monitor the service providers. Continue reading "SEC Proposes Oversight Rules for Some..." »

The SEC has adopted rules to require securities exchanges to implement new compensation recovery listing standards. These standards will require issuers who list securities on these exchanges to develop and implement a policy providing for the recovery of erroneously awarded incentive-based compensation received by current or former executive officers. The policy would be filed as an exhibit to the listed issuer’s annual report. In addition. the listed issuer must include disclosures related to its recovery policy and provide recovery analysis when a recovery is triggered. Continue reading "SEC Adopts Compensation Recovery Listing..." »

On October 26th, the SEC adopted amendments that will require mutual funds and exchange-traded funds registered on Form N-1A to transmit concise and visually engaging shareholder reports in a structured data format. In addition, these changes will promote transparent and balanced information concerning the fees and expenses related to investing in investment company advertisements. Continue reading "SEC Modernizes Fund Shareholder Reports to..." »

The SEC announced on October 18th that the compliance date for the submission of Form 144 to the EDGAR system in an electronic data format will be April 13, 2023. Continue reading "SEC Announces Form 144 Electronic Filing..." »

On October 12th, the SEC adopted amendments to the electronic recordkeeping and third-party recordkeeping service requirements applicable to broker-dealers, security-based swap dealers (SBSDs), and major security-based swap participants (MSBSPs). With the many technological changes over the last two decades, these changes are intended to modernize recordkeeping requirements and to make the rule adaptable to these new technologies in electronic recordkeeping. Continue reading "SEC Modernizes How Broker-Dealers Maintain..." »

The SEC’s Small Business Capital Formation Advisory Committee will hold a meeting on Thursday, October 13 at 10:00 a.m. ET to discuss entrepreneurship hubs and recent trends in taking a company public. Members of the public can watch the live meeting via webcast on sec.gov. {expires: 2022-10-14} Continue reading "SEC’s Small Business Advisory Committee to..." »