Attention all start-ups and small business owners! Today, the SEC published new educational resources for small business owners that dive in to the structure of income statements and balance sheets. The SEC’s Office of the Advocate for Small Business Capital Formation (OASBCF) is dedicated to supporting small businesses and their investors by advocating for their needs within SEC regulations. It provides guidance on capital-raising methods, such as equity crowdfunding and Regulation A, while working to reduce regulatory burdens. The office engages with stakeholders, offers educational resources, and issues an annual report to Congress on small business capital formation issues. It also collaborates with the Small Business Capital Formation Advisory Committee to enhance policy and facilitate better access to funding for startups, emerging companies, and underserved markets. As a reminder, you can learn more about Capital-Raising Building Blocks here. Press Release – SEC Publishes Small Business Educational Resources About Income Statements and Balance Sheets Subscribe to our news feed to stay updated on this and other SEC announcements.

On August 2, 2024, the SEC proposed a new rule under the Financial Data Transparency Act of 2022. The intended goal is to make financial data more standardized and accessible. Here’s a breakdown: Data Standards: The SEC wants companies to report their financial information using a common, standardized format. This means everyone would use the same “language” and structure when presenting data, which makes it easier to compare and analyze information across different companies. Transparency and Access: By using these standards, the data will be more transparent and accessible to investors, analysts, and regulators. It’ll be easier to find and use the information because it’s presented in a consistent way. Improved Analysis: Standardizing data helps in analyzing financial information more efficiently. It reduces the time and effort needed to understand and compare financial reports, which can lead to better decision-making for investors and regulators. Implementation: The proposed rule would require companies to use these standards when they submit their financial reports to the SEC. This is meant to help in creating a clearer and more uniform financial reporting landscape. In essence, the rule aims to make financial data clearer and easier to work with by setting common standards for...

On June 28, 2018, the SEC announced they had voted to adopt amendments to eXtensible Business Reporting Language (XBRL) with the implementation of Inline XBRL. Roll out dates begin with Large Accelerated Filers for fiscal periods ending June 15, 2019.

On June 28, 2018, the SEC announced they had voted to adopt amendments regarding the definition of “smaller reporting company” (SRC) which would open up the scaled disclosure to more companies.

The SEC made the following notice yesterday regarding regulatory relief for those affected by Hurricane Harvey, Hurricane Irma and Hurricane Maria.