Staff Accounting Bulletin No. 122

8492 Federal Register / Vol. 90, No. 19 / Thursday, January 30, 2025 / Rules and Regulations (see 14 CFR part 71, Designation of Class A, B, C, D, and E Airspace Areas; Air Traffic Service Routes; and Reporting Points); and paragraph 5– 6.5d—Modification of the technical description of special use airspace (SUA) that does not alter the dimensions, altitudes, or times of designation of the airspace (such as changes in designation of the controlling or using agency, or correction of typographical errors). In accordance with FAA Order 1050.1F, paragraph 5–2 regarding Extraordinary Circumstances, the FAA has reviewed this action for factors and circumstances in which a normally categorically excluded action may have a significant environmental impact requiring further analysis. Accordingly, the FAA has determined that no extraordinary circumstances exist that warrant preparation of an environmental assessment or environmental impact statement. List of Subjects in 14 CFR Part 73 Airspace, Prohibited areas, Restricted areas. The Amendment In consideration of the foregoing, the Federal Aviation Administration amends 14 CFR part 73 as follows: PART 73—SPECIAL USE AIRSPACE ■ 1. The authority citation for part 73 continues to read as follows: Authority: 49 U.S.C. 106(f); 40103, 40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959– 1963 Comp., p. 389. § 73.21 Alabama (AL) [Amended] ■ 2. Section 73.21 is amended as follows:

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R–2103A Fort Novosel, AL [Amended] Boundaries. A circular area with a radius of 4 statute miles centered at lat. 31°26′56″ N, long. 85°47′45″ W. Designated altitudes. Surface to but not including 5,000 feet MSL. Time of designation. Continuous. Controlling agency. U.S. Army, Cairns Approach Control. Using agency. Commanding General, U.S. Army Aviation Center, Fort Novosel, AL. R–2103B Fort Novosel, AL [Amended] Boundaries. A circular area with a radius of 4 statute miles centered at lat. 31°26′56″ N, long. 85°47′45″ W. Designated altitudes. 5,000 feet MSL to but not including 10,000 feet MSL. Time of designation. Continuous. Controlling agency. U.S. Army, Cairns Approach Control. Using agency. Commanding General, U.S. Army Aviation Center, Fort Novosel, AL. R–2103C Fort Novosel, AL [New] Boundaries. A circular area with a radius of 4 statute miles centered at lat. 31°26′56″ N, long. 85°47′45″ W. Designated altitudes. 10,000 feet MSL to 15,000 feet MSL. Time of designation. By NOTAM 6 hours in advance. Controlling agency. FAA, Jacksonville ARTCC. Using agency. Commanding General, U.S. Army Aviation Center, Fort Novosel, AL.

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Issued in Washington, DC, on January 27, 2025. Brian Eric Konie, Manager (A), Rules and Regulations Group. [FR Doc. 2025–01974 Filed 1–29–25; 8:45 am] BILLING CODE 4910–13–P SECURITIES AND EXCHANGE COMMISSION 17 CFR Part 211 [Release No. SAB 122] Staff Accounting Bulletin No. 122 AGENCY: Securities and Exchange Commission. ACTION: Publication of Staff Accounting Bulletin. SUMMARY: This staff accounting bulletin (‘‘SAB’’) rescinds the interpretive guidance included in Section FF of Topic 5 in the Staff Accounting Bulletin Series entitled Accounting for Obligations to Safeguard Crypto-Assets an Entity Holds for its Platform Users (‘‘Topic 5.FF’’). DATES: Effective January 30, 2025. FOR FURTHER INFORMATION CONTACT: Office of the Chief Accountant, at (202) 551–5300; or Division of Corporation Finance, at (202) 551–3400, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549. SUPPLEMENTARY INFORMATION: The statements in staff accounting bulletins are not rules or interpretations of the Commission, nor are they published as bearing the Commission’s official approval. They represent interpretations and practices followed by the Division of Corporation Finance and the Office of the Chief Accountant in administering the disclosure requirements of the Federal securities laws. List of Subjects in 17 CFR Part 211 Accounting, Reporting and recordkeeping requirements, Securities. Dated: January 23, 2025. Vanessa A. Countryman, Secretary. Accordingly, part 211 of title 17 of the Code of Federal Regulations is amended as follows: PART 211—INTERPRETATIONS RELATING TO FINANCIAL REPORTING MATTERS ■ 1. The authority citation for 17 CFR 211 is amended to read as follows: Authority: 15 U.S.C. 77g, 15 U.S.C. 77s(a), 15 U.S.C. 77aa(25) and (26), 15 U.S.C. 78c(b), 15 U.S.C. 78l(b), 15 U.S.C. 78m(b), 15 U.S.C. 80a–8, 15 U.S.C. 80a–29(e), 15 U.S.C. 80a–30, and 15 U.S.C. 80a–37. ■ 2. Amend the table in subpart B by removing the entry for ‘‘Staff Accounting Bulletin No. 121’’ and adding an entry for ‘‘Staff Accounting Bulletin No. 122’’ at the end of the table to read as follows: Subpart B—Staff Accounting Bulletins Subject Release No. Date Fed. Reg. Vol. and page

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Publication of Staff Accounting Bulletin No. 122 ............................................................ SAB 122 ....... January 30, 2025 [INSERT FED￾ERAL REG￾ISTER CITA￾TION]. Note: The text of SAB 122 will not appear in the Code of Federal Regulations. Staff Accounting Bulletin No. 122 This SAB rescinds the interpretive guidance included in Topic 5.FF in the Staff Accounting Bulletin Series entitled Accounting for Obligations to Safeguard Crypto-Assets an Entity Holds for its Platform Users. Upon application of the rescission of VerDate Sep<11>2014 16:14 Jan 29, 2025 Jkt 265001 PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 E:\FR\FM\30JAR1.SGM 30JAR1 lotter on DSK11XQN23PROD with RULES1

Federal Register / Vol. 90, No. 19 / Thursday, January 30, 2025 / Rules and Regulations 8493 1See FASB ASC 250–10–50–1 through 50–3 and IAS 8. See also, e.g., Item 302 of Regulation S–K [17 CFR 229.302] and PCAOB Auditing Standard 2820 (par. 8). 2 17 CFR 229.101, 105, and 303. 3See also IAS 37. 4See also IAS 1, Presentation of Financial Statements. 1See Rule 301 of Regulation S–T. 2EDGAR Release 24.3 was deployed on September 16, 2024. 3See Short Position and Short Activity Reporting by Institutional Investment Managers, Release No. 34–98738 (Oct. 13, 2023) [88 FR 75100 (Nov. 1, 2023)]. 4See Short Position and Short Activity Reporting by Institutional Investment Managers, Release No. 34–98738 (Oct. 13, 2023) [88 FR 75100 (Nov. 1, 2023)]. 5See Registration for Index-Linked Annuities and Registered Market Value Adjustment Annuities; Amendments to Form N–4 for Index-Linked Annuities, Registered Market Value Adjustment Annuities, and Variable Annuities; Other Technical Amendments, Release No. 33–11294 (July 1, 2024) [FR 89 FR 59978 (July 24, 2024)]. Topic 5.FF, an entity that has an obligation to safeguard crypto-assets for others should determine whether to recognize a liability related to the risk of loss under such an obligation, and if so, the measurement of such a liability, by applying the recognition and measurement requirements for liabilities arising from contingencies in Financial Accounting Standards Board Accounting Standards Codification (‘‘FASB ASC’’) Subtopic 450–20, Loss Contingencies, or International Accounting Standard (‘‘IAS’’) 37, Provisions, Contingent Liabilities and Contingent Assets, under U.S. generally accepted accounting principles and IFRS Accounting Standards, respectively. Entities should effect the rescission of Topic 5.FF on a fully retrospective basis in annual periods beginning after December 15, 2024. Entities may elect to effect the rescission in any earlier interim or annual financial statement period included in filings with the Commission after the effective date of this SAB. Entities should include clear disclosure of the effects of a change in accounting principle upon initial application of this rescission.1 The staff reminds entities that they should continue to consider existing requirements to provide disclosures that allow investors to understand an entity’s obligation to safeguard crypto-assets held for others. These requirements include, but are not limited to, Items 101, 105, and 303 of Regulation S–K; 2 FASB ASC Subtopic 450–20; 3 and FASB ASC Topic 275, Risks and Uncertainties.4 Accordingly, the staff hereby amends the Staff Accounting Bulletin Series as follows:

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Topic 5: Miscellaneous Accounting

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FF. Removed by SAB 122 [FR Doc. 2025–01864 Filed 1–29–25; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION 17 CFR Part 232 [Release Nos. 33–11341; 34–101914; 39– 2559; IC–35419] Adoption of Updated EDGAR Filer Manual AGENCY: Securities and Exchange Commission. ACTION: Final rule. SUMMARY: The Securities and Exchange Commission (‘‘Commission’’) is adopting amendments to Volume II of the Electronic Data Gathering, Analysis, and Retrieval system Filer Manual (‘‘EDGAR Filer Manual’’ or ‘‘Filer Manual’’) and related rules and forms. EDGAR Release 24.4 will be deployed in the EDGAR system on December 16, 2024. DATES: Effective January 30, 2025. The incorporation by reference of the revised Filer Manual is approved by the Director of the Federal Register as of January 30, 2025. FOR FURTHER INFORMATION CONTACT: For questions regarding the amendments to Volume II of the Filer Manual, please contact Rosemary Filou, Deputy Director and Chief Counsel, Jane Patterson, Senior Special Counsel, or Lidian Pereira, Senior Special Counsel, in the EDGAR Business Office at (202) 551–3900. For questions regarding the filing of Form SHO, please contact Timothy M. Riley, Branch Chief, or Patrice M. Pitts, Special Counsel, Office of Trading Practices, Division of Trading and Markets at (202) 551–5777. For questions regarding registering the offerings of registered index-linked annuities and registered market value annuities, please contact Heather Fernandez, Financial Analyst, in the Division of Investment Management at (202) 551–6708. For questions regarding Variable Insurance Products XBRL taxonomy, please contact the Office of Structured Disclosure in the Division of Economic and Risk Analysis at (202) 551–5494. For questions regarding filing formats for Schedules 13D and 13G with XML-Based Filing Format, please contact Robert Errett, Sean Harrison, or Joseph Lonergan in the Disclosure Management Office in the Division of Corporation Finance at (202) 551–3225. SUPPLEMENTARY INFORMATION: We are adopting an updated Filer Manual, Volume II: ‘‘EDGAR Filing,’’ Version 72 (December 2024) and amendments to 17 CFR 232.301 (‘‘Rule 301’’). The updated Filer Manual is incorporated by reference into the Code of Federal Regulations. I. Background The Filer Manual contains information needed for filers to make submissions on EDGAR. Filers must comply with the applicable provisions of the Filer Manual in order to assure the timely acceptance and processing of filings made in electronic format.1 Filers must consult the Filer Manual in conjunction with our rules governing mandated electronic filings when preparing documents for electronic submission. II. EDGAR System Changes and Associated Modifications to Volume II of the Filer Manual EDGAR is being updated in EDGAR Release 24.4 and corresponding amendments to Volume II of the Filer Manual are being made to reflect these changes, as described below.2 New Form SHO On October 13, 2023, the SEC adopted new Rule 13f–2 and related Form SHO to provide greater transparency through the publication of short sale-related data to investors and other market participants. Under Rule 13f–2, an institutional investment manager (‘‘Manager’’) that meets certain prescribed reporting thresholds will report certain short position and short activity data for certain equity securities on Form SHO.3 A Manager will file Form SHO using either a fillable web form available on EDGAR, or its own software tool that utilizes a Form SHO￾specific XML. The Commission will thereafter anonymize, aggregate, and publish certain data collected from the forms received. EDGAR will be updated in accord with this new rule.4 Forms Related to Registering the Offerings of Registered Index-Linked Annuities (‘‘RILAs’’) and Registered Market Value Adjustment Annuities On July 1, 2024, the Commission adopted Registration for Index-Linked Annuities and Registered Market Value Adjustment Annuities; Amendments to Form N–4 for Index-Linked Annuities, Registered Market Value Adjustment Annuities, and Variable Annuities; Other Technical Amendments.5 The Rule requires RILAs and registered market value adjustment annuities (collectively, ‘‘non-variable annuities’’) to register on Form N–4 and pay their fees on Form 24F–2. The following changes will be made to allow filers to comply with the new requirements: • EDGAR will be modified to automatically accept initial Form N–4 submissions from Securities Act of 1933 VerDate Sep<11>2014 16:14 Jan 29, 2025 Jkt 265001 PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 E:\FR\FM\30JAR1.SGM 30JAR1 lotter on DSK11XQN23PROD with RULES1