Both the SEC and the FERC will be closed Monday, January 2, 2023, in observation of the New Year holiday. The EDGAR System will not receive, process or accept filings on that day. Filings with a due date of January 2nd will be due the following business day, Tuesday, January 3rd. eForms will accept filings submitted on January 2nd. {expires: 2023-01-03} Continue reading "New Year’s Hours" »

Both the SEC and the FERC will be closed Monday, December 26th due to the closure of the federal government on that day. The EDGAR System will not receive, process or accept filings on that day. Filings with a due date of December 26th will be due the following business day, Tuesday, December 27th. eForms will accept filings submitted on December 26th. Also, on Friday, December 23rd, Novaworks will be providing limited e-mail support only after 11:00 a.m. due to inclement weather in western New York. {expires: 2021-12-27} Continue reading "Christmas Hours" »

On December 14th, the SEC adopted amendments to Rule 10b5-1 under the Exchange Act, which provides affirmative defenses to trading based on material, nonpublic data within insider trading cases. The SEC first adopted Rule 10b5-1 in August 2000 to address instances when insider trading liability arises in connection with a trader’s use or knowing possession of material nonpublic information. Continue reading "SEC Adopts Amendments to Update Rule 10b5-1..." »

On December 19th, the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system was updated to Release 22.4. The system now supports the 2022Q4 version of the Executive Compensation Disclosure (ECD) and Document and Entity Information (DEI) taxonomies. These taxonomies provide the tagging elements for disclosures associated with the SEC’s releases on Pay Versus Performance and Listing Standards for Recovery of Erroneously Awarded Compensation.

Continue reading "SEC Announces XBRL Taxonomies Update to Release..." »

On December 13th, the SEC’s Division of Corporation Finance posted an update to Non-GAAP Financial Measures Compliance & Disclosure Interpretations Questions 100.01, 100.04, 100.05, 100.06, and 102.10(a)(b)(c). The questions and answers are the Division's interpretations of the rules and regulations on the use of non-GAAP financial measures. Continue reading "SEC’s Division of Corporation Finance Revises..." »

On December 8th, the SEC’s Division of Economic and Risk Analysis announced that it has concluded an assessment of how filers are tagging line items on the income statement over multiple periods. The staff noted that a number of filers are using different elements when tagging the same reported line item on the income statement over multiple periods, though each of those tags are included in the taxonomy versions used in the filings. The staff’s findings also determined that some filers were using one element in a form, for example, Form 10-Q, while using another element for the same reported line item in a different form, such as Form 10-K. Continue reading "SEC Offers Guidance on Tagging Income..." »