Attachment 1 - Requirements List.pdf

Page 1 of 3 50310220Q0021

Attachment 1 – Requirements List

The U.S. Securities and Exchange Commission (SEC) requires a web-based research platform that provides access to a database of current and historical auditor and compliance information. The information shall be in a database format, categorized using a taxonomy, for all U.S. public companies that are SEC registrants, broker-dealers, and registered investment advisers. The SEC also requires a data feed of the above mentioned data points, along with additional data points outlined below. The data feed shall be provided for import into SEC systems.

The Contractor shall provide the following:

I. Web Accessible Data requirements

(a) The service shall provide at least fifteen years of information in, at minimum, the following categories:

Auditor information Current and historical auditor for each SEC registrant Auditor fees paid to each independent auditor by fiscal year, including restated fees Auditor changes and reasons for each change categorized and tagged to a detailed taxonomy Text of auditor’s opinion, benefit plan opinion, and if auditor’s opinion qualified as a going concern PCAOB registration information

Restatements and Late Filings Information Non-timely filers with related issues Form 8-K Section 4.02 non-reliance disclosures and restatements (including stealth restatements) Restatement issues shall be categorized and tagged to a detailed taxonomy

Sarbanes-Oxley Disclosure Information Auditor opinions and management assessments of internal controls over financial reporting with related issues Management assessments of disclosure controls, categorized and tagged to detailed taxonomy of material weaknesses, deficiencies, and related issues

Company Information Accelerated filer status disclosures Director and officer changes, current and historical IPO information Users shall have the ability to view summary information for individual companies that includes red flag warning indicators to help identify potential issues where a deeper investigation may be warranted.

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Broker-Dealer Information Location Assets Current auditor PCAOB registration information Accounting and professional fees Form x-17a-5 information from the audited annual reports

(b) The service shall provide at least nine years of data in the following category:

Registered Investment Advisor Information Location Assets under management Compensation Related parties Current auditor Form ADV information

II. Web-accessible Platform Delivery Requirements The service shall provide the information via a searchable web-accessible interface with the ability to download the data to Excel. The interface shall provide the capability to easily search for companies. It shall display a company overview of the following information, and the ability to limit searches by combining one or more of these elements:

Auditor Type of filing Filing date range Restatement period range Market capitalization range Revenues range Company location (including state and region) Industry

Users shall be provided the capability to receive email alerts for the following events, and warning alerts for anomalies that may be indicative of fraud, within one day of filing submission to the SEC’s EDGAR system:

Auditor changes Financial restatements and non-reliance disclosures Late filings Going concern opinions Adverse Sarbanes-Oxley Section 404 Internal Controls Adverse Sarbanes-Oxley Section 302 Internal Controls

Users shall be provided the capability to access analysts’ reports of trends and disclosure issues on topics such as non-GAAP, Key Audit Matters, accounting estimates and restatements.

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III. Data Feed Requirements The SEC requires that the data outlined in Section I and II above, along with the data described below, be provided as a data feed for import into SEC systems.

Data on legal cases filed in federal district court for matters involving audit firms and matters involving public companies disclosed to the SEC as material pending litigation

Information about securities class action cases and SEC actions SEC Comment Letters searchable by company, disclosure issues, persons and text.

Tax Footnotes disclosed in the footnotes of SEC registrants including their effective tax rates, deferred taxes, current taxes and acquired tax benefits.

Accounting Estimates Changes disclosed in an annual or quarterly filing.

An accounting quality risk matrix with results highlighting potential earnings management and other issues

Data Provisioning and Frequency Data shall be provided to the Commission using a secure, encrypted data feed

(push).

The transmission protocol shall be SFTP, and authentication can be via public or private key.

The data feed shall provide all historic information, and be updated daily. Daily updates shall include the full data set and all updated information.

Data must be enabled for full enterprise use, including data access and data-sharing within the SEC.

IV. Usage Requirements The web-accessible service shall be licensed for 78 users for public company information and for 20 users for broker-dealer and registered investment advisor information.

The data feed shall be licensed for enterprise-wide access.

V. Training The contractor shall provide unlimited training and help desk service, and provide access to company analysts during normal business hours, upon request.

V. Usage Data The contractor shall provide reports monthly, showing each user’s number of logins and number of email alerts viewed.