SEC

SEC to hold Fintech Forum

By Editor

The Securities and Exchange Commission (SEC) announced this week that in May they will be holding a Fintech forum to discuss distributed ledger technology and digital assets.

The SEC has taken a mixed approach to digital asset regulation, with SEC Chairman Jay Clayton suggesting that digital assets both do and don’t qualify as securities, depending on their design. To help clarify the regulatory ambiguity around digital assets the SEC established its Strategic Hub for Innovation and Financial Technology in 2018 (FinHub). Finhub now seeks to improve communication with and understanding of the digital asset industry with this forum.

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SEC Approves 2019 Taxonomy

By Editor

On 12 March the Securities and Exchange Commission (SEC) approved the US Financial Accounting Standards Board’s (FASB’s) 2019 GAAP Financial Reporting Taxonomy and the 2019 SEC Reporting Taxonomy. The updates to the GAAP Financial Reporting Taxonomy and the SRT for 2019 include changes to accounting standards, and a number of recommended improvements. The taxonomies are […]

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Cyber Risks Force Data Rethink at SEC

By Editor

The Securities and Exchange Commission (SEC) has modified the submission deadlines for registered investment companies filing non-public monthly reports in order to mitigate risks from cybersecurity breaches. The changes mean funds will still be required to maintain non-public monthly records on file (accessible to examiners on demand) before filing data for public consumption every quarter. […]

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Next Steps for Structured Data

By Editor

This month’s Toppan Merrill Report, Dimensions, highlights the Securities and Exchange Commission (SEC) Commissioner Robert J. Jackson’s vision on the future of structured data.

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SEC Re-open Comments on Introducing XBRL for Insurance Disclosure

By Editor

The Securities and Exchange Commission has reopened the comment period for a proposal to amend disclosure rules for variable annuity and life insurance contracts. The proposed rule change would include updating and enhancing disclosure of variable annuity and variable life insurance contracts by requiring disclosures to be in Inline XBRL format. This would increase transparency […]

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Regulation: A View from the Inside

By Editor

Last week the SEC’s Commissioner Hester M. Peirce surveyed the line regulators must tread, balancing protecting the public with fostering innovation. The SEC regulates an industry that is a gatekeeper for productivity in the rest of the economy: without the funds capital markets provide, it would be difficult for firms to progress and explore new […]

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Robot Criminals Cuffed

By Editor

Last month the Securities and Exchange Commission (SEC) took enforcement action against two robo-advisors for the first time. Technology is rapidly changing the way investment works, and one way it is changing is through the proliferation of robo-advisors; automated, software-based portfolio management services. With AI on the way there’s been increased concerns that AI’s ability to synthesise data […]

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FASB Release 2019 Taxonomy

By Editor

The Financial Accounting Standards Board (FASB) earlier this week announced that the 2019 GAAP Financial Reporting Taxonomy and 2019 SEC Reporting Taxonomy (SRT) are both available. The GAAP Financial Reporting Taxonomy contains updates for accounting standards and other recommended improvements. The 2019 SRT contains elements necessary to meet SEC requirements for financial schedules, condensed consolidating financial information for guarantors, […]

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SEC Seek Comments

By Editor

The Securities and Exchange Commission (SEC) are seeking input on the on-going debate surrounding the effects of mandated quarterly reporting. Earlier this week the SEC published a request for comments on how the Commission can reduce the burden on reporting companies while making sure disclosures are still (or more) effective and ensuring that investors have […]

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Municipal Bond Market Transformation

By Editor

Just over a month ago we reported on the progress being made towards US state level XBRL. Further optimistic thoughts on that this week from Barnet Sherman in Forbes. While the US municipality bond market is larger than any other, the work being done in this context has direct relevance to government reporting in many other parts of the world.

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