FOR IMMEDIATE RELEASE 2013-68 Washington, D.C., April 22, 2013 — The Securities and Exchange Commission today announced the agenda for a meeting of its Advisory Committee on Small and Emerging Companies on Wednesday, May 1. The Advisory Committee will hear presentations from Robert Greifeld, Chief Executive Officer of NASDAQ OMX Group, William R. Hambrecht, Chairman […]
SEC Adopts Rules to Help Protect Investors from Identity Theft
Washington, D.C., April 10, 2013 — The Securities and Exchange Commission voted unanimously to adopt rules requiring broker-dealers, mutual funds, investment advisers, and certain other entities regulated by the agency to adopt programs to detect red flags and prevent identity theft. The SEC adopted the rules jointly with the Commodity Futures Trading Commission (CFTC) in […]
XBRL: Simplifying the Language
Any time you have people using a new language there are bound to be snags. The same holds true with XBRL. With the many different XBRL vocabularies available, how do you untangle the web? Accounting has its own domain-specific language, developed over time in response to national and international legal requirements. This language facilitates a […]
SEC Suspends N-SAR XML project
After a number of setbacks and delays, on March 12, 2013, the SEC Division of Investment Management released a notice to EDGAR Form N-SAR Filers that it has suspended the project to modify the method of filing Form N-SAR to an XML-based application. N-SAR filers should continue to use the DOS-based application to create Form […]
Weigh In With the SEC on Fixed Income Markets
The Securities and Exchange Commission has announced that it will hold a roundtable on April 16, 2013 to discuss potential ways to improve the transparency and efficiency of fixed income markets. The roundtable will focus on the corporate bond market and the municipal securities market, which were the subject of a July 2012 Commission report. […]
What to expect for XBRL in 2013
Financial Executives International recently published their report on the financial industry’s transition to XBRL : SEC reporting and The Impact of XBRL: 2012. To find out how companies are handling SEC reporting and compliance with XBRL tagging requirements, The Financial Executives Research Foundation surveyed executives and SEC reporting professionals from 416 unique companies. What do […]
NYSE proxy fees
The Proxy Fee Advisory Committee (PFAC), formed by the New York Stock Exchange, published its 2012 recommendations for changes to the fees paid by public companies to banks and brokers for the distribution of proxy materials to shareholders who hold their stock in street name. The 2012 Report and Recommendations propose to encourage and […]
Regulation changes: What to Expect In 2013
The Fiscal Cliff aside, what can savers, borrowers and investors expect in 2013? Dividend and Capital Gains taxes. As it stands now, the rate on long-term capital gains is scheduled to increase from 15% to 20% and the Federal Tax Rate on dividends is scheduled to increase from 15.0% to 43.4% Higher taxes relating to […]
SEC Filing Fees Going up
The Securities and Exchange Commission announced that in fiscal year 2013, the fees that public companies and other issuers pay to register their securities with the Commission will be set at $136.40 per million dollars, a 19% rate increase. While this 19% leap on its own is a pretty hefty price hike, when you take […]
Crowdfunding and Title V of the JOBS Act
The intent of Title V of the new JOBS Act is to encourage companies who were not yet willing or able to take on the additional burdens of becoming a public reporting company to seek to raise capital and expand their businesses. Opponents are concerned that the crowdfunding exemption will give rise to abuses of […]