SEC

The Trump administration urged the overhaul of key rules underpinning trading in U.S. stock, bond and derivatives markets, calling on regulators to loosen dozens of restrictions.

The Securities and Exchange Commission has upgraded its EDGAR system and now supports the 2017 IFRS taxonomy for International Financial Reporting Standards using XBRL technology.

The U.S. Securities and Exchange Commission said Monday that the hackers who broke into its corporate filing system last year accessed two people’s personal information, a change from the agency’s previous assessment that it didn’t believe such data had been compromised.

The Securities and Exchange Commission is providing regulatory relief and assistance to accountants, public companies, investment firms, municipal advisors and other affected by Hurricanes Harvey, Irma and Maria.

The window for public nominations is closed; SEC commissioners will now make their own nominations.

The recently disclosed breach came from the commission's test filing system.

The commission has been aware of the breach since 2016.

A little-known Republican Senate aide is in line to lead the accounting industry’s watchdog, setting up an official who lacks experience in the auditing profession for one of the highest-paying jobs in financial regulation.

The Financial Accounting Standards Board proposed a GAAP Financial Reporting Taxonomy and, for IFRS filers, a Shared Reporting Taxonomy on Tuesday, asking for public comments on the files.

The Securities and Exchange Commission has released a staff accounting bulletin to conform its existing staff guidance to the new revenue recognition standard that takes effect for public companies at the end of the year.

The Big Four firm topped large and small firms in new SEC engagements.

Accounting and financial firms and business groups are sending comment letters to the Securities and Exchange Commission ahead of a deadline Friday for approving a new standard from the Public Company Accounting Oversight Board on expanding the scope of audit reports.

KPMG has agreed to pay more than $6.2 million to settle charges it failed to properly audit the financial statements of Miller Energy Resources, a Knoxville, Tenn.-based oil and gas company that settled accounting fraud charges last year, the Securities and Exchange Commission said Tuesday.

SEC Chair Jay Clayton calls for nominees for open board spots.

The Public Company Accounting Oversight Board has imposed a $1 million civil penalty against PricewaterhouseCoopers and censured the firm for its audits of Merrill Lynch.

Extensible Business Reporting Language, the data-tagging code now required by the Securities and Exchange Commission for filing financial statements, has been making headway not only in the U.S., but in other parts of the world.

The Center for Audit Quality and the Securities and Exchange Commission Historical Society are celebrating the 15th anniversary of the passage of the Sarbanes-Oxley Act with a series of videos featuring commentary from several accounting, finance and auditing experts.

Extensible Business Reporting Language is starting to become more widely used, thanks to the SEC’s rules requiring the use of XBRL in financial filings in recent years and a new rule requiring XBRL for foreign issuers.

A unit of Booz Allen Hamilton Holding Corp. is the focus of criminal and civil probes by the Justice Department related to how it billed the government for contracting work, the company disclosed in a filing.

Academic research finds that readable financial disclosures help not only investors, but companies as well.