SEC releases FAQs on tailored shareholder reports
The Securities and Exchange Commission (SEC) has issued a set of FAQs on Tailored Shareholder Reports (TSR), offering insights into key aspects of compliance. This latest update provides guidance in anticipation of the approaching compliance deadline on July 24, 2024.
This rule, introduced in October 2022, mandates open-end funds to prepare annual and semi-annual reports that are streamlined, concise, visually engaging, and, notably, tagged with Inline XBRL. Aimed at addressing the challenge of comprehending lengthy shareholder reports, often exceeding 100 pages, the rule is a commendable effort to assist retail investors in making informed decisions.
Last year a new taxonomy – the OEF (open-end funds) taxonomy, was released to support the rule.
In this latest blog, the SEC has addressed a number of issues, including questions on the date that requirements relating to Inline XBRL come into force for various reporting scenarios, and the specific forms that Inline XBRL requirements affect. Worth taking a look for anyone with upcoming reporting requirements!
Access the FAQs here.
