US SEC chairman says XBRL is vital to informing investors
US SEC chairman says XBRL is vital to informing investors
May 30, 2006
XBRL will serve a vital need in helping individual investors find the financial information they require, US Securities and Exchange Commission (SEC) Chairman Christopher Cox told a conference attended by leading figures in US business and technology. The growth in investment by individuals, with more than 50 pct of US citizens owning stocks, coupled with declining investment at leading Wall Street firms in research information for private investors, meant that new methods for providing easy access to company financial data were essential, Mr Cox told an American Enterprise Institute conference.
