Marc Joffe, Senior Policy Analyst at The Cato Institute, highlighted the role of state-level reporting systems in shaping the implementation of the Financial Data Transparency Act (FDTA). Joffe’s insights shed light on how states could provide a model for FDTA execution.
In 2022, the Municipal Securities Rulemaking Board (MSRB) launched EMMALabs, an innovation sandbox within the Electronic Municipal Markets Access (EMMA). The new platform is designed to accelerate and advance data analytics in municipal securities markets. EMMALabs has recently introduced a prototype dedicated to structured data, providing essential insights into its significance.
In an ongoing effort to enhance the quality and utility of corporate financial data filed with the SEC, the Division of Corporation Finance has issued a sample letter addressing companies’ XBRL and Inline XBRL disclosures. This letter aims to provide constructive feedback and guidance to improve the clarity and accuracy of financial reporting.
The implementation of standardised, normalised and harmonised data collections, such as in the Dutch Standard Business Reporting (SBR) program, can significantly reduce administrative burden and improve efficiencies.
The Securities and Exchange Commission (SEC) has published its Semi-Annual Report to Congress on the use of machine-readable data for corporate disclosures, as mandated by the Financial Data Transparency Act (FDTA).
The US Federal Housing Finance Agency (FHFA) has been encouraged to embrace the use of XBRL and the LEI (Legal Entity Identifier) to facilitate the transition mandated by the FDTA (Financial Data Transparency Act) legislation.
Following the passage of the US’s Financial Data Transparency Act (FDTA) late last year, there has been some debate on the best way to implement the requirements of the act. XBRL US recently published a white paper offering an analysis of the existing state of data management amongst agencies affected by the FDTA and a […]
Last week the US Securities and Exchange Commission’s (SEC) Chair Gary Gensler spoke at the Municipal Securities Disclosure Conference in Washington D.C., emphasising the importance of transparency and disclosure in the US $4 trillion municipal bond market.
The recently passed Financial Disclosure Transparency Act (FDTA) requires the US Securities and Exchange Commission (SEC) and other regulators to adopt data standards for — inter alia — municipal data collection and reporting. Although the act passed in December 2022, the details of implementation are still a work in progress.
The UK’s Levelling Up, Housing and Communities Committee (LUHCC) is launching an inquiry into financial reporting and audit in local authorities following calls for more understandable local authority financial statements.
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