New RegTech legislation would oblige US regulators to use common standards, common definitions and common identifiers. Information would be made available as part of government Open Data efforts.
Not enough acronyms in your life? We didn’t think so. New identifier will help provide a new kind of financial transaction audit trail, reducing risk and enhancing transparency.
As expected, on Wednesday the US SEC met and approved a Proposed Rule to switch US listed company filings to Inline XBRL. We look at some of the implications.
On 28 February the SEC announced that it will now accept financial statement filings from international companies listed in the US in XBRL or iXBRL format using the IFRS taxonomy. From December it will be obligatory.