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The SEC is likely to propose a new rule next year that publicly traded companies file their financial reports using XBRL, the interactive data language SEC Chairman Christopher Cox has long hailed as a powerful tool for investors to study financial results. Speaking at a press conference last week to unveil a new “taxonomy” of […]

The Securities and Exchange Commission’s proposal to accept filings from some foreign companies without reconciliation to U.S. Generally Accepted Accounting Principles is drawing mixed reviews from the financial reporting community. Under the current rule proposal, which drew more than 100 comment letters before the deadline last week, the SEC would accept filings from foreign private […]

While the Securities and Exchange Commission’s package of proposals aimed at easing the financial reporting burden for small companies includes some welcome reforms, not all of the changes will be helpful, panelists at an SEC roundtable recently said. Participants at last week’s annual SEC Government-Business Forum on Small Business Capital Formation praised some of the […]

The creation of a high-profile committee to examine ways to simplify the rules for financial reporting could breathe new life into a related debate: how to simplify the creation of those rules in the first place. Amid much fanfare, the Securities and Exchange Commission appointed a new Committee to Improve Financial Reporting in June. Its […]

The creation of a high-profile committee to examine ways to simplify the rules for financial reporting could breathe new life into a related debate: how to simplify the creation of those rules in the first place. Amid much fanfare, the Securities and Exchange Commission appointed a new Committee to Improve Financial Reporting in June. Its […]

Following the 2005 revamp of its rules governing registered public offerings, the Securities and Exchange Commission has sets its sights on Regulation D, the rule that applies to private and limited offerings. Among other things, the proposed rule is significant because it “marks the first time that the SEC has materially addressed Regulation D in […]

Form D, one of the workhorse documents in financial reporting, is poised to get a major overhaul that will push it into the electronic era for good. The Securities and Exchange Commission has proposed revamping Form D entirely, adding some new disclosures and eliminating some old ones. Companies would also be required to file the […]

At the request of subscribers, Compliance Week offers a Remediation Center, in which readers can submit questions—anonymously—to securities and accounting experts. Compliance Week’s editors will review all questions and then submit them—confidentially, of course—to specialists who can address the issues. The questions and responses will then be reprinted in a future edition of Compliance Week. […]

Proposed changes to ease restrictions on certain sales of securities, part of a larger plan by the Securities and Exchange Commission to improve the process of raising capital, are winning support in the financial reporting community. Last week the SEC closed the public comment period on its proposals for Rule 144 and Rule 145 of […]

The Securities and Exchange Commission wants the public’s input on the issues to be considered by a panel charged with recommending ways to improve U.S. financial reporting and to reduce unnecessary complexity. The SEC posted for comment last week a discussion paper of the newly formed Advisory Committee on Improvements to Financial Reporting. The paper, […]