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Items tagged with "SEC"

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Municipal Bond Market Transformation

Just over a month ago we reported on the progress being made towards US state level XBRL. Further optimistic thoughts on that this week from Barnet Sherman in Forbes. While the US municipality bond market is larger than any other, the work being done in this context has direct relevance to government reporting in many other parts of the world.

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Accessing the SEC’s Public but Hidden Data

The theme of the importance of easy access to data was continued at the XBRL US Investor Forum 2018: Powering Fintech the week before last, with SEC Commissioner Robert J. Jackson’s keynote speech highlighting the need to improve access to publicly available data.

Jackson argued that the investing public view data as either public or private – but that this misses a third type of data, public but hidden. Acquiring publicly available data from the SEC disclosure website can be costly, error-prone and time-consuming, creating an exclusionary barrier to this information.

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SEC Propose XBRL for Insurance Disclosures

This week the Securities and Exchange Commission (SEC) published a rule proposal on “Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts” that would require the use of Inline XBRL. The proposed amendments are intended to “harness technology to allow investors, data aggregators, financial analysts, Commission staff, and other data […]

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SEC Uses Data Analysis to Detect Cherry-Picking by Broker

Here at XBRL International, strongly believe that access to transparent, high-quality data can create a fairer, safer financial environment. Earlier this month, the SEC gave us an example of the potential data has to prevent and find fraud. On 12 September the Commission charged a New Jersey-based broker with misusing his access to customers’ brokerage […]

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Opening Private Companies to Broad Investment?

An interview with the SEC Chairman Jay Clayton at Launch Tennessee’s 36|86 Entrepreneurship Festival this Wednesday indicates that the securities regulator in the US is considering ways to make it easier for individuals to invest in private companies. Rules designed to protect “Main Street” investors from riskier private markets have put stringent income and net-worth […]

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Impact of SEC Final Rule on XBRL Tagging Requirements

The SEC final rule on amendments to disclosure requirements has been published in full, allowing our colleagues at XBRL US to assess its impact on XBRL requirements. In the near-term, the final rule doesn’t require any changes to what is required to be tagged by preparers. The ruling includes some areas that may result in […]

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Investors Tell the FASB: Segment Disclosures Need Improving

A recent Chartered Financial Analyst (CFA) Institute survey indicates that segmented reporting information is critical to investors, yet disclosures need improving dramatically. Recent exchanges between investors and tech giants such as Amazon and Alphabet (aka Google) show the struggle: Amazon and Alphabet cloak the performance of important sections of their business such as Alexa, Amazon […]

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Inline XBRL: Understanding the Final SEC Rule

8th August, 2018

XBRL US is organising a webinar on US Securities and Exchange Commission’s final rule for Inline XBRL for operating companies and funds on 8th August 2018. The webinar will explain the specifics of the rule, the rationale for the rule, and the impact it is expected to have on both issuers and data consumers. Speakers include staff […]

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New study: Cost of Compliance Falling Rapidly

Cost is no barrier to even small companies preparing financial statements with the global digital standard for business reporting, as the average annual cost of XBRL preparation has dropped by 45% over the last three years in the US. Recognizing that computer-readable reports make financial information easier for regulators and investors to analyse, the US […]

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Paper lies down?

The US House Financial Services Committee this week set out a host of measures designed to simplify or roll back a number of regulations in that country. It did not include H.R. 5054, a bill that sought to restrict the transparency and openness of corporate reporting by requiring the SEC to exempt a large number of smaller […]

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