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Draft XBRL Taxonomy and Implementation Guide for Nationally Recognized Statistical Rating Organizations
The Securities and Exchange Commission adopted Rule 17g-7(b) of the Securities Exchange Act of 1934 (Exchange Act) relating to the disclosure requirements for credit rating histories of nationally recognized statistical rating organizations in August 2014. Rule 17g-7(b) will become effective on June 15, 2015 and will supersede the current disclosure requirements for credit rating histories under paragraphs (d)(2) and (d)(3) of Rule 17g-2 of the Exchange Act.
A draft Record of Credit Ratings taxonomy (R14) with respect to the credit rating history disclosures required by Rule 17g-7(b) and a draft of the corresponding Rating History Files Publication Guide have been published for public comment and are available at http://www.sec.gov/info/edgar/edgartaxonomies_d.shtml.
The public comment period will end on January 30, 2015. Please provide comments on this taxonomy and guidance at https://www.sec.gov/forms/contact_dera using "Draft ROCR Taxonomy" in the "General Subject Matter of Your Request" section no later than January 30, 2015.
2015 Draft XBRL Taxonomies
The proposed 2015 U.S. GAAP financial reporting taxonomy has been published for public comment by the Financial Accounting Standards Board (FASB) and is available at http://www.fasb.org/jsp/FASB/Page/SectionPage%26cid=1176164335312. The public comment period will end on October 31, 2014. Comments on this taxonomy should be submitted directly into the FASB's taxonomy viewer. The SEC staff encourages filers, investors, analysts, software service providers, and other interested parties to participate in this public review to continue to improve the process for creating and using XBRL tagged financial statements.
The draft 2015 updates to SEC taxonomies are available at http://www.sec.gov/info/edgar/edgartaxonomies_d.shtml. Please provide comments on the draft 2015 updates to SEC taxonomies via https://www.sec.gov/forms/contact_dera using "Draft 2015 SEC Taxonomies" in the "General subject matter" section no later than October 31, 2014.
Upon completion of the public comment period and consideration of the feedback, the taxonomies will be subject to Commission approval. The availability for public comment of the proposed 2015 U.S. GAAP financial reporting taxonomy and the draft 2015 updates to SEC taxonomies does not indicate Commission approval of any potential regulatory changes related to the EDGAR Filer Manual. Please refer to the SEC's EDGAR webpage at http://www.sec.gov/info/edgar.shtml for updated information on when the Commission approves changes, if any, related to the EDGAR Filer Manual. If appropriate, transition guidance will be posted on the standard taxonomies page at http://www.sec.gov/info/edgar/edgartaxonomies.shtml.
Exposure Draft Interim Release Package on the IFRS Taxonomy 2013
Foreign private issuers that prepare their financial statements in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board are not required to submit to the Commission Interactive Data Files, as defined in Rule 11 of Regulation S-T, until the Commission specifies on its website a taxonomy for use by such foreign private issuers in preparing their Interactive Data Files. See The Center for Audit Quality, SEC No-Action Letter (Apr. 8, 2011) at http://www.sec.gov/divisions/corpfin/cf-noaction/2011/caq040811.htm.
The Commission staff is continuing to review taxonomies for use by foreign private issuers. An Exposure Draft Interim Release Package on the IFRS Taxonomy 2013 has been published for comment by the IFRS Foundation and is available at http://www.ifrs.org/XBRL/IFRS-Taxonomy/Pages/Exposure-Draft-of-the-IFRS-Taxonomy-2013---Interim-release-package.aspx. The public comment period will end on November 11, 2013. Comments on this taxonomy should be submitted directly to the IFRS Foundation. The Commission staff encourages filers, investors, analysts, software service providers and other interested parties to participate in this public review to assist the IFRS Foundation in continuing to develop the IFRS Taxonomy.