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SEC reporting rules change

Chris Hamblin, Editor, London, 22 February 2020

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The US Securities and Exchange Commission has revised the Electronic Data Gathering, Analysis, and Retrieval System (EDGAR) Filer Manual and related rules.

EDGAR was upgraded on 27 January. The updates are to Volume I, entitled General Information (Version 35), and Volume II, entitled EDGAR Filing (Version 53) (January 2020). The Filer Manual contains all the technical specifications needed for filers to make submissions through the EDGAR system.

The SEC has amended regulatory requirements in Regulation ATS (issued under the Exchange Act) that apply to alternative trading systems (ATS) that trade National Market System (NMS) stocks. EDGAR Release 20.1 will update Form ATS–N submission types to provide filers with a textbox to explain when orders in the NMS Stock ATS can be routed from the ATS. It provides support for XBRL validation of Document Entity Identifier data in XBRL submissions to improve consistency with existing EDGAR data and data in EDGAR header elements. The EDGAR Filer Manual has been revised to provide additional instructions for tagging Document Entity Identifier data in submissions that contain XBRL.

Along with this, the SEC is amending Rule 301 of Regulation S–T to provide for the incorporation by reference into the Code of Federal Regulations of the current revisions.

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