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Enhanced SEC Enforcement search now live on Securities Mosaic

December 11, 2019

This morning, we unveiled a new-look SEC Enforcement search page, which includes numerous upgrades and enhancements.  Customers have long asked for the ability to search on a specific statute or rule allegedly violated by a defendant, and with the newly redesigned tool, now they can do just that.  They can also search for enforcement actions overseen by a specific Administrative Law Judge, or search for specific document titles.  Additionally, we now aggregate all enforcement releases that are part of a common enforcement action, so you no longer have to wonder which documents associated with a given defendant are part of which case.

Use the enhanced SEC Enforcement search page for the following tasks, among others.

  • Perform due diligence on individuals or companies to see if they have been involved in any SEC enforcement actions
  • Benchmark trends in enforcement, including the assessment of penalties and other relief, for specific types of violations and scenarios
  • Use this information to counsel clients in the following ways:
    • Perform a risk assessment of a client’s contemplated action, to determine the likelihood and severity of potential enforcement
    • Advocate for clients who are already in trouble, knowing what enforcement remedies are standard for that violation based on existing precedent

Questions?  Contact our Research Support team at lsmsupport@lexisnexis.com or by calling us at 888-925-8627.

Redesigned navigation bar and new Laws, Rules, Agency Materials search coming to Securities Mosaic this weekend

May 9, 2019

In the next few days, some high-visibility improvements are coming to Lexis Securities Mosaic.

Most noticeably, we are redesigning and rearranging our navigation to make it more logical and user-friendly.  The new navigation bar better foregrounds those features and content that are unique to, or especially strong points for, Securities Mosaic.

LSM_nav_5.10.19

What does that mean, exactly? Two things. First, assets like our Investigation and Enforcement searches, SRO materials, and SEDAR content will now be immediately visible when you land on Securities Mosaic. Second, users will have the option to see all content and features on Securities Mosaic at once, in a single view, by expanding the menu with a click:

LSM New Nav expanded

The idea is to help you get better value from the product by seeing features and content that may not have been on your radar.

Another big change is our redesign of the old Laws, Rules, & Agency Materials search page. All the same content will now be available in two new dedicated search pages, Agencies & SROs and Laws & Regulations. (Scroll all the way to the bottom of this blog post to see screenshots.) Again, one of our goals here was to make key content more discoverable. So, for example, things like SEC Regulations, the Dodd-Frank Act, and SROs are now plainly visible in the top-level search form. Moreover, by creating dedicated search page for these two broad content areas, we can offer functionality tailored to these two broad categories of content.  I’ll offer two examples.

First, we’ve added a QuickFind tool to Laws & Regulations. This is a significant enhancement in that it that makes pulling specific laws and statutes easy and intuitive. In the old search environment, you’d have to know, and accurately type in, the complete official US Code or CFR citation for a given law or rule. But most practitioners don’t use the complete citation; they use shorthand like “Regulation S-K” or “Section 16” or “Rule 10b-5”.  The new QuickFind lets you search by such shorthand terms:

LR QF

Second, we now allow searching by practice area topic on Agencies & SROs. This functionality is not only a new option on the search page, it’s also accessible directly from the navigation bar. Use the topic feature to limit your search to only those agencies (or SROs) and Federal Register notices relevant to the topic you choose.  Of course, you can further refine in the usual ways — by keyword, date, document type, and so on.

Agencies SROs by Topicfew other features round out this weekend’s release.  We’ve created a redesigned News page that is your new Swiss army knife for anything and everything related to the Securities Mosaic News Service: accessing the latest newsletter, viewing and editing your personal news reception preferences, accessing the news archive, or simply getting an overview of what’s available to you as a subscriber.

Finally, on the Securities Mosaic home page we’ve added two new “Quick Search” shortcuts: to SEC Agency Materials (available also under Agencies & SROs), and to our new (and awesome) Insider Search.

If you have any questions or comments, please reach out to our Customer Support team at lsmsupport@lexisnexis.com or 1-888-925-8627.

Agencies SROs screenshot

Laws Regs screenshot

The recently released Insider Search page on Securities Mosaic is our most ambitious release in years

December 11, 2018

Last weekend, we released a completely revamped version of our search page for Insider Filings — EDGAR Forms 3, 4, and 5.  These filings, ubiquitous yet revelatory, are where company bigwigs and fat cats (a.k.a. Executives, Directors, and significant Beneficial Owners) publicly disclose their trading on the securities of that company.  The new, state-of-the-art tool — a collaboration between Lexis Securities Mosaic and Intelligize — offers a dozen new search filters along with major functionality enhancements.  It’s our most ambitious release in several years.

business-man-chasing-money

Image from publicdomainpictures.net. Some rights reserved.

You can get more specific details in our last blog post, but here is a summary of the high-level capabilities offered by the new search page.  Use it to:

  • Track significant insider buying and selling and analyze trends, based on the criteria you specify
  • Identify, value, and benchmark equity compensation in the form of grants and options
  • Find similar transactions to locate precedent language or model disclosure to guide your own Form 4 disclosure
  • Identify the major stakeholders in a company or industry, either currently or historically

And who exactly might benefit from such capabilities?  The answer is as diverse as the disclosure itself, and includes:

  • Law firms advising corporations on matters related to executive compensation (stock purchase and other 10b5-1 plans, employment agreements, etc.)
  • Lawyers representing either side in shareholder litigation claims regarding: executive compensation issues – say-on-pay, etc.
  • Lawyers representing corporations (whether as outside or in-house counsel) heading into proxy season (to be in position to advise on exec compensation, pay ratio disclosure, etc.)
  • Public companies advising Section 16 execs who are considering open market transactions on how to disclose
  • In-house counsel and corporate secretaries preparing for proxy season (to be in position to advise on exec compensation, pay ratio disclosure, etc.)
  • Consultants who advise companies in the area of Executive Compensation and Employee Benefits
  • Lawyers representing either side in any litigation aimed at a company or individual (due diligence research, etc.)
  • Lawyers representing either side in shareholder litigation claims re: short swing profit violations or insider trading violations
  • Wealth managers, financial analysts, and investment advisers (for business development)
  • And of course, investors, day traders, — pretty much anyone who wants to follow the money.

If you have questions, feel free to reach out to us at lsmsupport@lexisnexis.com or 888-925-8627.

Major upgrade to Securities Mosaic Insider Search coming soon

December 4, 2018

Pursuant to Section 16 of the Exchange Act, an issuing company’s directors, officers, and 10%+ beneficial owners (“insiders”) must disclose whenever they acquire or dispose of the securities of that company.  Insider transactions, disclosed in Forms 3, 4, and 5, may include open market cash purchases or sales, as well as equity compensation in the form of stock grants and awards, plus options exercises, conversions, and much more.

200398089-001We are excited to announce that we have completely rebuilt the Insider Search tool on Lexis Securities Mosaic to optimize our users’ ability to research, track, and understand this rich data.  To be released this weekend, the new search page will offer the following benefits:

  • Search on transactions by size, dollar value, and type of security acquired or disposed.  For example, instantly identify insider transactions in which more than $1 million in securities was sold for cash on the open market.
  • Filter by transaction type or category.  For example, you can limit your search to any transactions exempt under Rule 16b-3; or to securities acquired by inheritance.
  • Search by the dollar value of the owner’s holdings following a transaction.
  • Search on the aggregate value transacted in insider filings, as reflected in all the transactions within a given filing. You can look for a specific dollar range targeting the total acquired, total disposed, or the net change in value (whether positive or negative).
  • Text-search the crucial footnotes section of insider filings
  • Get a bird’s eye view of the insider reporting landscape with our new results display that provides a wide area of essential data points for each transaction
  • Export your results to Excel to get an even wider view, along with the ability to further slice and dice data for closer analysis
  • Create real-time alerts for all search/filter options

If you have questions, feel free to reach out to us at lsmsupport@lexisnexis.com or 888-925-8627.

 

Announcing two recent enhancements on Securities Mosaic

June 7, 2018

In case you missed it, we’ve recently released two major product enhancements on Lexis Securities Mosaic.

On May 25, we unveiled a newly enhanced and redesigned version of our Investment Adviser page.  The new search tool allows users to pull historical Form ADVs that we’ve been archiving since 2012.  We’ve also added text search to allow users to search an adviser’s current registration in its entirety, including Part 2 materials.  Finally, new  filters include the ability to search on Customer Type and Advisory Services Provided.

On April 6, a newly enhanced version of our search page for Canadian SEDAR filings went live.  We added new filters for Recipient Province, Auditors, Latest CUSIP, Material Contracts, and others.  We also added new functionality including batch download, a share search feature, and the ability to save searches.

To see a full list of the product enhancements we’ve made to Securities Mosaic over the past several years, search on the “Product enhancements” category of this blog (or click here).

CFTC Unveils Blueprint for Swaps Rules Reboot

May 23, 2018

President Trump has declared the Dodd-Frank Act a “disaster” and has promised to drastically overhaul it.  But the Trump-nominated CFTC Chairman, J. Christopher Giancarlo, has so far shown a more measured approach to Dodd-Frank reform.

During a discussion at the International Swaps and Derivatives Association’s Annual General Meeting on April 26th, Giancarlo announced the release of a new white paper, Swaps Regulation Version 2.0: An Assessment of the Current Implementation of Reform and Proposals for Next Steps. Noting that the Chairman “has long been a public supporter of the swaps market reforms passed by the U.S. Congress in Title VII of the Dodd-Frank Act,” the paper, which Giancarlo co-authored with CFTC Chief Economist Bruce Tuckman, lays blame for problems in the swaps markets not with the Dodd-Frank Act’s mandated reforms, but rather with the CFTC’s implementation of those reforms. Similarly, the Wall Street Journal observed that the white paper represents “an update, rather than a repudiation, of Dodd-Frank,” with Giancarlo and Tuckman emphasizing they are looking for ways to “optimize” the existing swaps rules “to strike a balance between systemic safety and stability and market vibrancy and economic growth.”

Chris_Giancarlo_official_photo

Despite the authors’ criticism of the CFTC’s implementation of Dodd-Frank swaps reforms, the white paper determined that the agency’s approach to the Dodd-Frank’s mandate on swaps clearing — which it called “the most far-reaching and consequential of the swaps reforms” — has been “highly successful,” noting the substantial increase in the volume of swaps transactions cleared by central counterparties (“CCPs”). In other areas, particularly with respect to swaps reporting and swaps execution rules, the white paper concluded that the CFTC’s implementation was “flawed and ineffective,” maintaining that the rules adopted by the CFTC for swaps execution “missed the mark set by Congress” in the Dodd-Frank Act. Giancarlo and Tuckman suggest that the CFTC’s approach to the swaps execution rules, which restricted swaps execution to two methodologies, has resulted in the global fragmentation of swaps markets, increased market liquidity risk, and the transfer of swaps liquidity formation and price discovery away from swap execution facility (“SEF”) platforms.

To address the perceived shortcomings in the swaps execution rules, the paper proposes eliminating the current restriction on the methods of execution by allowing SEFs to offer any method of execution for swaps subject to the Trade Execution Requirement. According to The Wall Street Journal, Giancarlo told conference attendees that he plans to take action soon to advance a specific proposal to revise the swaps execution rules, which is expected to be released in July.

While Giancarlo hesitated to promise immediate action on other recommendations, the paper does set out ideas that could form the basis of future rulemaking or policy proposals. For instance, The Wall Street Journal notes that in the paper Giancarlo and Tuckman make the case for the use of Dodd-Frank-mandated orderly liquidation funds to ensure continuity of clearing services, should the failure of a CCP threaten the stability of the financial system. The embrace of Dodd-Frank’s orderly liquidation procedures comes on the heels of a similar recommendation by the Treasury Department for banking regulators to retain the Orderly Liquidation Authority for the resolution of complex financial institutions, which concluded that the much-maligned provision of Dodd-Frank was necessary to ensure financial stability. The authors call for the CFTC and the FDIC to work together on resolution planning for CCPs. Finally, maintaining that the current regime overestimates the risks for swaps, they call for regulators to rely more heavily on the internal risk models used by banks and their swap affiliates, and that current bank capital requirements be adjusted accordingly. These recommended changes would require action by international and other U.S. regulators.

Giancarlo has long advocated for changes to the CFTC’s swap execution rules, and the white paper reflects his commitment to prioritizing swaps rule reform in his role as CFTC chairman. However, the agency’s ability to implement his plan faces numerous hurdles. As Bloomberg recently pointed out, the proposals, which “mark the biggest policy shift for the agency during the Trump administration,” face a long road to adoption, as they would have to undergo the CFTC’s lengthy rulemaking process, including a public notice and comment period. Giancarlo announced that he plans to retire from the CFTC when his term expires next year, which may further hamper his ability to see the proposed reforms to fruition.

Finally, at least one major hurdle comes from Giancarlo’s own Republican party and the President who nominated him. The push for deregulation combined with the realities of tax reform– the Congressional Budget Office estimated that government revenue will decrease by $1.3 trillion over the next decade—has left many federal agencies with the need to tighten their belts. Giancarlo has lamented the fact that the CFTC is “not properly funded” and was “astounded” to learn that instead of approving his request for an annual budget increase of $31.5 million, Congress instead recommended a $1 million cut.  Ironically, then, the agency’s ability to reboot Dodd-Frank may be jeopardized by the very impulse that required it in the first place: the view that government is too big.

A small change to the Securities Mosaic home page, affecting readers of this blog

February 5, 2018

You may have reached this blog post by clicking through to it from the Lexis Securities Mosaic home page, where for years we’ve included a handy link to blogmosaic. That link will be changing soon, routing readers instead to the equally wonderful but much more frequently updated Intelligize blog.  Below is some Q&A on this change.

LSM homepage 2.5.18

Q:  Does this change mean blogmosaic is going away?

A:  No, blogmosaic will still be accessible at https://blogmosaic.knowledgemosaic.com/.  If you have an RSS or social media feed set up, it will still work.

Q:  Why the change?

A:  Two related reasons.  First, because its content is updated regularly, the Intelligize blog better reflects Securities Mosaic’s commitment to offering current awareness and timely analysis. (Blogmosaic, in contrast, is updated only about once a month.) Second, we want to make sure our users know about Intelligize and are in a position to benefit from the insight of commentators like Phil Brown, Todd Hicks, Marc Butler, and Rob Peters.

Q:  I’m seeing more and more references to Intelligize within the Securities Mosaic product. Will this trend continue?  

A:  The important context here is that since 2016 Intelligize and Securities Mosaic have been partners in the larger LexisNexis family.  So, in addition to the small change described here, we’ve added Intelligize content to our Daily Securities News and a link to the Intelligize product from the Securities Mosaic navigation bar.  (Likewise, Intelligize has added a link to Securities Mosaic from within its product.)  Where there are similar specific opportunities for improving one product by drawing on assets from the other, or more generally for enhancing awareness and accessibility of both products, we will be open to them — even as we continue to build out the two products separately.

Tax Reform is here. Now what?

January 17, 2018

Photo from vedc.org; some rights reserved.

Two words: Tax Reform.  Public Law 115-97, formerly known as H.R. 1 and commonly known as the Tax Cuts & Jobs Act – is indeed the talk of the town. And by ‘town’, we don’t just mean the corporate boardrooms and executive suites of midtown Manhattan. We mean almost every town; and for good reason! Both critics and supporters alike agree on one thing: with the law’s passage, fundamental change to the US tax code – and by extension to the US economy – has occurred.

Our focus here won’t be on the specifics of the legislation; Lexis Securities Mosaic brings you the most insightful legal commentary from top law firms, so you have the benefit of their work for that kind of analysis. Instead, we’d like to point your attention to what comes next.  And quite frankly, we just don’t know – nothing is certain. That uncertainty is reflected in risk factor disclosure on the new law so far in recent filings by public corporations. A simple text search on Lexis Securities Mosaic for ‘Tax Reform’ in SEC-disclosed Risk Factors makes this – if nothing else – clear. “Tax reform may significantly affect our operations and shareholders” is a typical refrain from companies spanning the gamut of US industries. Such generic, noncommittal language ostensibly allows companies to fulfill their regulatory obligation to disclose risk without really disclosing anything substantive at all.

Yet companies are well aware of the specific risks, and many are actively hedging; as are many individual taxpayers; as are foreign governments and international corporations and financiers.  We also know the next shoe to drop will likely center around action congress and federal regulators take with respect to the potential ballooning effects the new law is poised to have on federal budget (read: PAYGO). We’ll be watching this space. And we’ll keep you posted. Two words: Happy 2018.

Coming Friday, January 12: Get the Securities Mosaic Daily News through Newsdesk

December 12, 2017

If your firm or company has an enterprise-wide license to Lexis Securities Mosaic, you’ll soon be able to receive publications from the Securities Mosaic news service through the LexisNexis Newsdesk toolNewsdesk is a Codie award-winning media-monitoring solution that offers you the ability to aggregate and manage all your incoming news in one platform, applying filters to ensure you’re getting only what’s relevant to you.

The change is coming on Friday, January 12.

NewsdeskThe Securities Mosaic news service keeps you on top of the highly regulated and constantly churning Corporate/Securities, Energy, or Communications industries.  Content you can’t afford to miss is distilled into a single daily, weekly, or bi-weekly email:

  • Daily regulatory updates
  • A daily snapshot of the best, most relevant, and most interesting news stories
  • Relevant memos on timely subjects from top law firms
  • Expert opinion and analysis
  • Concise summaries of the most important developments affecting your work

You can learn more about our news service here.

Will Recent Data Breaches Impact the 2018 Filing Season?

November 29, 2017

On December 6, our colleagues at Intelligize are hosting a free webinar on cybersecurity and its relationship to corporate disclosure. Hosted by Marc Butler, the panel will include experts from Ulmer & Berne, Patterson Belknap Webb & Tyler, and risk advisory firms. Topics addressed will include:

  • How incident response has evolved with the increase in cybersecurity events;
  • What others in the industry are doing in regard to cyber liability insurance;
  • Timing of disclosure in periodic reports, when should you disclose and how much do you report; and
  • What is the litigation path beginning to look like? What to expect?

To read more or to sign up for the webinar, click here.

 

 

Tracking Trump

October 12, 2017

Still reeling from multiple failed attempts by the Republican-controlled Congress to torpedo the Affordable Care Act from the top down — through legislative action — President Trump today signed an Executive Order aimed at undercutting his predecessor’s signature law from the bottom up, through the markets.

Meanwhile, federal agencies charged with implementing Obamacare continue to churn out final rules that delineate the everyday practical and administrative details of the law.  That is, the ongoing federal agency rulemaking process is effectively entrenching the law even as politicians seek to undermine it.  Looking at the Affordable Care Act Rulemaking Tracker on Lexis Securities Mosaic, we can see no fewer than 14 such final rules (by the Department of Health and Human Services, the Centers for Medicare and Medicaid Services, and the Department of the Treasury) passed over the past three months.  (Click the “Show search filters” expander and select “Final Rule” under Action Type.)  The most recent was released last week.

trump

Securities Mosaic is a great resource for tracking both sides of this push and pull.  In addition to utilizing current awareness tools like the Affordable Care Act Tracker, a Securities Mosaic user can, for example, pull the actual bills presented to Congress to repeal or dismantle – or, for that matter, defend and reinforce – Obamacare.  If you have access to Securities Mosaic, you can click here to see the results of that search.   You can also set up an email alert to track future such actions going forward.

Furthermore, Securities Mosaic allows you to search on or be alerted to official Presidential actions as recorded in the Federal Register.  So far during his administration, President Trump has issued 213 Executive Orders, Memoranda, or Proclamations.  Some of these are well-known — for example, the infamous “travel ban” of January 27 — others less so.  Many are consistent with what we would expect from the President based on his stated priorities (Construction of the Keystone XL PipelineEnhancing Vetting Capabilities and Processes for Detecting Attempted Entry Into the United States by Terrorists or Other Public-Safety Threats; Made in America Day and Made in America Week) or simply on who he is (German-American Day; Older Americans Month).  Others might leave some scratching their heads, or be tinged with dark humor, given Trump’s past statements and actions:  National Hispanic Heritage Month; Women’s Equality DayGold Star Mother’s and Family’s Day; Increasing Access to High-Quality Science, Technology, Engineering, and Mathematics (STEM) EducationNational Disability Employment Awareness MonthNational Mental Health Awareness Month.

If you don’t have access to Securities Mosaic, contact us to get set up with a free trial.

 

The news gets better on Friday

September 6, 2017

We’re pleased to announce that beginning with the Friday September 8 edition, our Securities Daily News will feature two brand new sections — the first enhancement to our newsletter in many years.  The addition is made possible by our partnership with Intelligize, which provides best-in-class search capability on (among other things) SEC-registered offerings and M&A transactions.  Drawing from those databases, Lexis Securities Mosaic will offer new Recent Registered Offerings and Mergers & Acquisitions sections in its Securities Daily News.  Readers will see a list of recent deals in these two areas; readers who also subscribe to Intelligize will have the additional option to quickly link to related source content.

Earnings Call Transcripts now available on Intelligize

July 31, 2017

While no law requires public companies to conduct earnings calls, much less to reveal any particular information in them, the quarterly conference earning call has become a ubiquitous and important feature of the corporate landscape.  The formal record of these calls, the Earnings Call Transcript, has thus becomes an important touchstone to corporate investors and others who need to pay attention to what public companies and markets are doing.

In response to this ever-increasing need, our colleagues at Intelligize recently released a new Earnings Call Transcripts (ECT) application.  Offering full text search and dedicated search filters, the Intelligize ECT solution is the most advanced search tool around, allowing researchers to cut through the clutter gather information more quickly and effectively.

To read more about the ECT application on Intelligize, click here.  To learn more about the history and significance of ECTs, read this recent white paper by Phil Brown, Intelligize Chief Strategy Officer.

 

Trump goes one way, ExxonMobil another

June 2, 2017

Just one day before President Trump’s controversial announcement that the U.S. intended to withdraw from the recently ratified Paris climate accord, shareholders of energy giant ExxonMobil defied the company’s board and voted in favor of a climate change-related resolution.  The nonbinding resolution would require more detailed analysis and disclosure to shareholders regarding the potential impact of policy changes related to climate change, such as those encouraged by the Paris agreement.  “Irrespective of the current administration’s stance on climate change,” one proponent of the resolution argued in a recent press release filed with the SEC, “countries around the world are moving ahead with policies that will limit greenhouse gas emissions and will likely impact the market for ExxonMobil’s products. ExxonMobil puts itself and its long-term investors at risk by failing to acknowledge this reality.”

For more on climate change policies and the Trump administration’s announcement in the context of the business sector, see this post by Marc Butler on our partner Intelligize’s blog.

 

SEC Filings changes are live

April 21, 2017

As we’ve recounted in previous posts, we’ve been working on a number of changes to the Securities Mosaic SEC Filings page in response to customer feedback.  The changes went live earlier this week.  They include:

  • Moving the Filer (Company) search field to the upper left hand corner of the search screen.
  • Restoring the Form Type and Exhibit selection input boxes to the main search form, so that an extra click is no longer necessary to see them.
  • Creating a new “Condensed View” option for our results display that shows more records per screen and is thus more quickly scanned.  (We’ll also give you the option to set the Condensed View as your default display.)
  • Adding hyperlinks to the list of results in our Printable View display,  so that you have an additional way to access an even larger number of search results in a single, condensed view.
  • These adjustments are in addition to a number of smaller changes we made back in January, which included restoring the “Edit Search” button to the results display.

If you have feedback to share or questions to ask regarding our SEC Filings page, please feel free to reach out to me directly at christopher.hitt@lexisnexis.com.

Lexis Securities Mosaic and Intelligize for 10-Q research

April 2, 2017

Securities Mosaic is a great resource for searching on SEC filers’ quarterly reports.  You can filter at the item (section) level of the document to target financial statements, controls and procedures, Management’s Discussion & Analysis, risk factors, and more.  Starting with such an item-level search, you can instantly batch-download or batch-email the full 10-Q including exhibits, or just the specific 10-Q item.  Need to see how a particular company’s MD&A disclosure changed from quarter to quarter, or from original to amended version?  Use the Securities Mosaic redline tool to quickly answer that question.

But what if you need to do even more?  For example, what if you’ve been asked to perform in-depth analysis on what’s being disclosed in today’s 10-Qs, requiring you to delve beyond the item level and isolate particular categories of risk disclosure, MD&A, or notes to financial statements in order to establish “what’s market”?  If that’s your use case, we recommend you also check out our LexisNexis partner Intelligize.  With Intelligize you can track, for example, how common Fair Value Measurements are in the notes to financial statements section of the 10-Q; or how often your peers discuss taxation in their MD&A.

To learn more about how Intelligize can complement and enhance your research on quarterly reports and other SEC filings, click here.

 

Coming Soon: User-requested changes to Securities Mosaic Filings page

March 1, 2017

You spoke.  We listened.

As we detailed in our last blog post, our December release of the redesigned SEC Filings page did not quite meet with the enthusiastic reception we were hoping for.  Even though we packaged the redesign with lots of cool new features — which have indeed been well-received — many users felt we went too far in our efforts to create a clean, uncluttered, and “modern” search page.

We took these complaints seriously.  I personally spoke to many of you, often on multiple occasions, to gather the detailed feedback that would be the foundation for a redesigned redesign.  I’m pleased to announce today that we’ll release the bulk of these customer-prompted changes in a few weeks.

The upcoming changes include:

  • Moving the Filer (Company) search field to the upper left hand corner of the search screen.
  • Restoring the Form Type and Exhibit selection input boxes to the main search form, so that an extra click is no longer necessary to see them.
  • Creating a new “Condensed View” option for our results display that shows more records per screen and is thus more quickly scanned.  (We’ll also give you the option to set the Condensed View as your default display.)
  • Adding hyperlinks to the list of results in our Printable View display,  so that you have an additional way to access an even larger number of search results in a single, condensed view.

These adjustments are in addition to a number of smaller changes we made back in January, which included restoring the “Edit Search” button to the results display.

We’ll let you know when we have a firm release date for these changes, but we expect they’ll go live around the end of this month.

Thanks to everyone who took the time to register feedback and constructive criticism.

Following customer feedback, some adjustments coming to redesigned Filings page on Securities Mosaic

January 17, 2017

Back in early December, when we released our newly enhanced and redesigned SEC Filings page with much fanfare, we were excited about what we saw as the many functional and aesthetic improvements to a search platform that was beginning to seem — to us at least — a little stale after more than a decade of scant change.  Granted, we felt some trepidation about how our loyal customers would respond to a search experience that was, at least at first glance, quite different from what they were accustomed to.  But this trepidation was tempered by many factors: our confidence in our approach to the redesign, which incorporated extensive user feedback and careful thinking through of subtle details; our knowledge that the redesigned page preserved all essential features and functionality—that we had taken nothing away; and our excitement about the many new valuable features that had been added, including a library of predefined searches, the ability to refine results using post-search filters, one-click batch download of results, and more.

Six weeks later, with the benefit of hindsight and much constructive criticism from our customers, we now realize we probably underestimated just how much love you had for the venerable old search page. We also probably underestimated the degree to which folks would be, well, annoyed by having to relearn how to do things — regardless of whether the changes we introduced were in some inherent sense “better.”  And even though we made a concerted effort to alert customers in advance and to offer support and resources for becoming acquainted with the new interface, there’s no doubt that many still felt unprepared for the change.  In short, we regret that the transition to the redesigned Filings page was for many users a little rocky.  And while many of you have told us you’ve gotten used to the new search page – even prefer certain things about it – others miss the old search page, or at least certain aspects of it.

So where does that leave us going forward?  Our primary goal is always to make our customer happy.  But what is the best path to achieving this?  For lots of reasons, we don’t think rolling back the clock and restoring the old search page is the answer. Instead, our plan is to identify the specific elements about the old search form that people miss the most and incorporate them into the new search form.  Based on your feedback, these elements include:

  • Presenting the filing company search box as the first thing you see in the search form
  • Certain important search filters, such as form type and preselected date range (e.g., “Last 3 Years”) selection, being more visible and accessible without an extra click
  • The ability to click an “Edit Search” link to have the option to edit your parameters within the initial search form
  • The ability to see a large number of search results in a single view in order to scan them quickly and without scrolling

You have spoken and we have listened.  We already have changes in development to address these and other items.  Many of these will be released later in January; we expect to have all redesign tweaks complete within the next several months.  Stay tuned to this blog for updates.

In the mean time, if you’d like to offer additional feedback on the redesigned search page, including specific changes you’d like to see, or if to ask me questions or voice any concerns, please feel free to reach out to me directly at christopher.hitt@lexisnexis.com.  Finally, thank you again for your patience and continued dedication to Securities Mosaic.

Corporate and Financial Regulation under a Trump Presidency

December 9, 2016

When Donald Trump takes office on January 20, 2017, a slew of financial regulations passed by the Obama administration will likely be revised or eliminated entirely. Additionally, if Trump utilizes 1996’s obscure Congressional Review Act to strike down a rule, the federal agency that issued that rule is prohibited from enacting a similar rule again in the future. According to an analysis by the George Washington University Regulatory Studies Center, over 150 rules adopted since late May 2016 are theoretically susceptible to the ax.

The fact that Trump is consulting with Paul Atkins, who served as a Republican member of the Securities and Exchange Commission (“SEC”) from 2002 to 2008, is reflective of how the president-elect will target certain regulations, as Atkins during his tenure spoke out against big fines for companies and frequently found fault with Dodd-Frank. Additionally, Mary Jo White’s November 14 announcement that she will step down as head of the SEC before Trump takes office and two years before the end of her term leaves vulnerable some of the most significant initiatives in the past few years and clears the way for Trump to reshape the way in which Wall Street is regulated.

Below is a summary of some of the regulations that are said to be susceptible to change:White House Snow Panorama

Volcker Rule: Instead of completely repealing Dodd-Frank, the Trump administration and Congress would presumably target the portions of the law that aggravate the banks the most, including the Volcker Rule, which forbids banks from making risky bets with their own money.

CFPB: Trump could consider restricting the authority of the Consumer Financial Protection Bureau (“CFPB”), the watchdog agency that has pursued harsher rules governing debt collection, payday loans and overdraft fees and has also proposed banning mandatory arbitration clauses that limit class-action lawsuits from consumers. The CFPB recently scored a major victory when it fined Wells Fargo $100 million for allegedly opening fake accounts for its customers. Republicans have regularly criticized the CFPB, arguing that the financial services industry is already severely regulated.

Fiduciary Rule: Trump has vowed to stop or dismantle the Labor Department’s fiduciary rule, which aims to remove conflicts and guarantee that brokers put the interests of retirement savers first and is set to take effect in April 2017.

Disclosure of Executive Pay: Shortly after Trump takes the oath of office, he is expected to repeal the SEC’s pay disclosure rule, which requires companies to disclose pay ratios between their CEOs and employees.

Conflict Minerals Rule: Also on the chopping block could be the rule that would require companies to disclose whether their products contain conflict minerals, namely those that were mined in a war-torn region of Africa.

PCAOB: Republicans have recently criticized the Public Company Accounting Oversight Board (“PCAOB”), which was created to oversee and draft new rules for corporate auditors. At issue with Republicans are the agency’s proposal that companies rotate auditors to reduce conflicts, as well as the agency’s requirement that accounting firms disclose the name of individual partners who are working on company audits.

According to DealBook, the Trump administration will likely first focus on more politically charged issues such as the Affordable Care Act, immigration, environmental regulations, and the Supreme Court. As a result, the financial industry will likely dwell in uncertainty for several more years.

New SEC Filings page on Securities Mosaic is live

December 3, 2016

Our newly enhanced and redesigned SEC Filings page  is here!  The search page is simpler and sleeker than the old version, yet it also has many new features and enhancements — while still allowing you to do everything the old page allowed. For more detail on what we’ve done, see our previous blog post, which you can access here — or, just scroll down.  To see a 5-minute video overview of the new search page, click here.

Users who who would like a more thorough walk-through of the new search page can click on the Help section once the new page is live (see screenshot below).  Or, reach out to your administrator or LexisNexis representative.

help-screenshot