Search Results for keywords:"financial disclosures"

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Search Results: keywords:"financial disclosures"

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  • 2021-00145 — Proposed Collection; Comment Request
    Type:Notice
    Citation:86 FR 1551
    Reading Time:about 2 minutes

    The Securities and Exchange Commission (SEC) is seeking public comments regarding the extension of information collection under Rule 34b-1, as required by the Paperwork Reduction Act of 1995. This rule pertains to the sales literature of investment companies, ensuring that performance data is standardized and not misleading to investors. The SEC estimates that each year, approximately 351 respondents submit 7,362 responses related to this rule, with a total annual burden of around 46,278 hours. The SEC invites comments on whether this information collection is necessary and how the process might be improved.

    Simple Explanation

    The Securities and Exchange Commission (SEC) is asking for people's thoughts on a rule that makes sure the info investment ads show is honest and easy to compare, like making sure everyone uses the same size crayons to make a coloring book. They're also wondering if everything is working well and if it can be improved.

  • 2025-01864 — Staff Accounting Bulletin No. 122
    Type:Rule
    Citation:90 FR 8492
    Reading Time:about 3 minutes

    The Securities and Exchange Commission (SEC) released Staff Accounting Bulletin No. 122, which removes the previous guidance about protecting crypto-assets held for platform users in their Staff Accounting Bulletin Series. This change affects how companies account for their responsibility to safeguard these assets and requires them to determine if they need to recognize a liability for potential losses. Companies are advised to apply this change retrospectively starting after December 15, 2024, and must provide clear disclosures about how this change affects their financial statements. The aim is to help investors understand a company's obligations concerning crypto-assets.

    Simple Explanation

    The SEC took away old rules about how companies should handle and report on digital money they keep safe for their users. Now, companies must think carefully about if they need to say they might owe money if any of that digital money gets lost, and they have to tell people what's changed in the way they count this money.