Comments open on SEC registration statements
The US Securities and Exchange Commission (SEC) has submitted a request for extension of its Form S-1 to the Office of Management and Budget. It is open for comment for 30 days from publication on 9 August.
Form S-1 is used by public companies based in the US to produce a registration statement for new securities; it must be completed before shares can be listed. In some cases filers must include financial statements in XBRL, although this is not required for S-1s filed in connection with an initial public offering, the most usual use of the form.
From our perspective at XBRL International, all information included in S-1s – and in prospectuses in general – should be marked up in XBRL in a way that makes them comparable and useful for investors.
Read the request here.