SEC NEWS

Latest News from the
Securities & Exchange Commission

Final Phase-in of iXBRL for Risk Return Filings begins on September 17, 2021

August 17, 2021 - The final phase-in of iXBRL (inline XBRL) for Risk Return filings begins on September 17, 2021.  All fund groups will need to comply with the iXBRL requirements for any initial registration statement (or post-effective amendment that is an annual update to an effective registration statement) that becomes effective on or after September 17, 2021.

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SEC Announces Changes to Multiple Forms and the Support of IFRS 2021 Taxonomy

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June 21, 2021 - EDGAR Release 21.2 will introduce the following changes:

  • As part of Release 33-10771, the SEC adopted the following amendments to Forms S-1, S-3, F-1, and F-3:
    • Enable issuers of “Exchange Traded Vehicle Securities” to register an indeterminate number of securities and pay the fee for those securities on an annual basis. As a result, submission form types S-1, S-1/A, S-3, S-3/A, F-1, F-1/A, F-3, and F-3/A will be updated to include “Exchange Traded Vehicle Securities” as a new Security Type.  If “Exchange Traded Vehicle Securities” is chosen as the Security Type in these forms, the “Type of Payment” field will be enabled. The options available for the “Type of Payment” field are “Indeterminate” and “Pay In Advance.”
  • In accordance with Release 33-10871, the SEC adopted the following changes to submission form types N-CEN and N-CEN/A:
    • The following two new sub-items will be added to Item C.7:
      • Rule 12d1-4 (17 CFR 270.12d1-4)
      • Section 12(d)(1)(G) of the Act (15 USC 80a-12(d)(1)(G))
    • The text for Item C.7 will be updated as follows: “Reliance on certain statutory exemption and rules. Did the Fund rely on the following statutory exemption or any of the rules under the Act during the reporting period? (check all that apply)”
    • The following validation changes will be made:
      • Item C.6.g will now accept negative values
      • Items C.3.b.iii.1, C.3.b.iii.2, C.6.f, C.6.g, E.4.a.ii.1, E.4.a.ii.2, E.4.a.iii.1, and E.4.a.iii.2 will be updated to make decimal values optional instead of required
    • The following two questions will be added for Part F: Additional Questions for Unit Investment Trusts:
      • Item F.18. Reliance on rule 12d1-4. Did the Registrant rely on rule 12d1- 4 under the Act (17 CFR 270.12d1-2) during the reporting period?
      • Item F.19. Reliance on section 12(d)(1)(G). Did the Registrant rely on the statutory exception in section 12(d)(1)(G) of the Act (15 USC 80a- 12(d)(1)(G)) during the reporting period?
    • If the “Report for period ending” is on or after 12/31/21, then a response to Item F.18 and Item F.19 is required for N-4, N-6, and S-6 filers.
  • EDGAR will be updated to support the IFRS 2021 Taxonomy.

EDGARLink Online Document Attachment Capabilities

June 9, 2021 - Effective June 9, 2021, EDGARLink Online permits filers to attach multiple documents simultaneously to EDGAR submissions, if the filer is using an internet browser other than Internet Explorer.

If the filer is using Internet Explorer, the filer must attach documents one at a time to EDGAR submissions.

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SEC Announces Form Types that are No Longer Accepted

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May 10, 2021 - As of May 10, 2021, the SEC no longer accepts the following form types via EDGAR:

  • N-Q (and amendments)
  • NSAR-A (and amendments)
  • NSAR-AT (and amendments)
  • NSAR-B (and amendments)
  • NSAR-BT (and amendments)
  • NSAR-U (and amendments)
  • NT-NSAR (and amendments)

New Exhibits for Regulation A Form Types

January 4, 2021 - Effective January 4, 2021, EDGAR will update Regulation A form types to permit filers to identify subsidiaries that provide guarantees. Filers will have the option to attach new exhibits on form types DOS, DOS/A, 1-A, 1-A/A, 1-A POS, 1-K, 1-K/A, 1-SA, 1-SA/A, 1-U and 1-U/A.

The new exhibits to be added are:

  • “EX1A-17 GNTR/ISSR” on form types DOS, DOS/A, 1-A, 1-A/A and 1-A POS
  • “EX1K-17 GNTR/ISSR” on form types 1-K and 1-K/A
  • “EX1SA-17 GNTR/ISSR” on form types 1-SA and 1-SA/A
  • “EX1U-17 GNTR/ISSR” on form types 1-U and 1-U/A

The exhibits to be removed are:

  • “EX1A-15 ADD EXHB” from DOS, DOS/A, 1-A, 1-A/A, and 1-A POS form types
  • “EX1K-15 ADD EXHB” from 1-K and 1-K/A form types
  • “EX1SA-15 ADD EXHB” from 1-SA and 1-SA/A form types
  • “EX1U-15 ADD EXHB” from 1-U and 1-U/A form types
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Addition of new checkbox on cover page of Forms 10-K, 20-F, 40-F and
acceptance of electronic/remote online notarizations, which includes
electronic signatures for Form ID’s

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December 14, 2020 - EDGAR Release 20.4 will introduce the following changes:

  • A new checkbox on the cover page of Forms 10-K, 20-F and 40-F to disclose whether a company has obtained an internal control over financial reporting (“ICFR”) auditor attestation under Section 404(b) of the Sarbanes-Oxley Act.
  • Acceptance of electronic notarizations and remote online notarizations, which include electronic signatures, in connection with the Form ID application.

2021 SEC EDGAR Calendar – Deadlines and Holidays

November 23, 2020 - The SEC announced 2021 EDGAR peak filing dates and federal holidays.

Filers should plan their filings accordingly as EDGAR filing volume on peak days tends to be highest in the hour prior to the end of the filing day.

On federal holidays, the SEC will not receive, process or accept filings through the EDGAR system.

We offer a downloadable version of the 2021 SEC calendar on our website here.

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SEC Announces EDGAR Filing Fee Rate for Fiscal Year 2021

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October 1, 2020 - The SEC has announced a new EDGAR filing fee rate for filings made pursuant to Section 6(b) of the Securities Act of 1933 and Sections 13(e) and 14(g) of the Securities Exchange Act of 1934.

The new fee rate for 10/01/2020 – 09/30/2021 is $109.10 per $1,000,000.

The filing fee rate is calculated by multiplying the aggregate offering amount by 0.00010910.

SEC Announces Form Types that are No Longer Accepted

September 21, 2020 - As of September 21, 2020, the SEC no longer accepts the following form types via EDGAR:

  • N-1
  • N-1/A
  • N-27E-1
  • N-27E-1/A
  • N-27F-1
  • N-27F-1/A
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