There is increasing interest in granular data from financial regulators worldwide. There is also an increasing use of structured data using XBRL taxonomies within very large data collections, including inside enterprises. Combined, these new developments mean that our standards need to provide new ways to exchange information in highly efficient ways.
On August 8 the Securities and Exchange Commission (SEC) published a proposed amendment, the Modernization of Regulation S-K, which aims to revise and modernise Regulation S-K, which governs a host of non-financial disclosures by US registrants.
In a significant step forward for municipal reporting standards this week the California Assembly passed a bill that will set the state on the path to machine-readable reporting.
The Japanese Financial Services Agency (JFSA) has a bold plan to put Suptech (supervisory technology) to use in improving the sophistication and efficiency of its financial supervision.