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: 

* * * * * 

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. 

* * * * * 

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 

*******

Publication of Staff Accounting Bulletin No. 122 ............................................................ SAB 122 ....... January 30, 2025 [INSERT FEDERAL REGISTER CITATION]. 

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 


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: 

* * * * * 

Topic 5: Miscellaneous Accounting 

* * * * * 

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 SHOspecific 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 


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