US lawmakers should reject the suggestion that smaller listed companies’ Fintech-friendly data should be replaced with paper. It would be like telling smaller film makers that they can’t use Netflix anymore, but instead need to market their work on VHS tape.
The massive EDGAR database serves up 1.5 billion copies of documents filed by public companies with the SEC each year, and these days 85% of those downloads are by ‘bots, not humans. That’s an important signal: regulatory data needs to be human and machine readable. Read more…
At XBRL International we believe that there is an extraordinary opportunity for collaboration both between regulators and amongst the regulated to improve clarity, improve outcomes and to bring about significant simplification. It’s also a chance to lower the costs associated with inconsistent regulations imposed on business. JP Morgan Chase seems to agree.
Better ratings and better bankruptcy predictions are possible with ratio analysis of the financial statements prepared by local government. That requires high quality digital disclosures.
A terrifying study out this week from IFAC says that the burden on internationally operating businesses caused by different regulatory arrangements is in excess of $780 billion USD. That’s more than the GDP of Switzerland. Or Malaysia and Singapore combined. It’s half the GDP of Brazil, population 200M+!