XBRL US has published a comment letter encouraging the US Securities and Exchange Commission (SEC) to include XBRL tagging in recent proposals to modernise Management’s Discussion and Analysis (MD&A) disclosures. Other parts of the world often call these disclosures “Management Commentary”. Earlier this year the SEC proposed a number of reforms to modernise, enhance and simplify […]
Every year each publicly traded company in the US must submit an iXBRL tagged Annual Report (known as a “Form 10-K”) to the Securities and Exchange Commission, giving a comprehensive account of financial performance, condition and risk. What if the US government did the same? There is no requirement for federal, state and local governments […]
The US Department of Commerce is consulting on a proposed rule update to International Services Surveys (BE-180), including a plan to require survey respondents that have a Legal Entity Identifier (LEI) to provide it. XBRL US has submitted a comment letter in support of this proposal, arguing that the LEI ‘presents a critical opportunity to […]
“Forward Looking Statements” have a specific meaning in securities law and regulation. Academic, regulatory and market literature is filled with the pros and cons of companies providing information in their financial statements that help users understand what might impact future earnings and cashflows and that isn’t based on historical facts. If in January you had […]
Following the recent (online) Federal Energy Regulatory Commission (FERC) conference, FERC is calling for post-conference comments on the draft taxonomy discussed. In June 2019 the US FERC announced that they were adopting the XBRL standard for utilities reporting, in order to make it easier to submit and analyse data, automate filings, and, over time, reduce costs. In […]
The US Securities and Exchange Commission (SEC) has proposed updates to National Market System (NMS) regulation designed to improve the transparency, efficiency and fairness of market data.
The US Securities and Exchange Commission (SEC) has published a draft update for 2020 to the Document and Entity Information (DEI) taxonomy. Interested and affected parties are invited to provide comments on the draft DEI taxonomy via email to StructuredData@sec.gov before the deadline of 27 May 2020. Read more and access the taxonomy files here.
The US Federal Energy Regulatory Commission (FERC), which switched to XBRL for a number of utilities reporting forms last year, has published a rule proposal to revise transmission incentive policies and extend XBRL to Form 730. In the proposal FERC notes that further adopting XBRL would allow the reporting of comprehensive, consistent, interoperable data, and would […]
XBRL US has submitted a comment letter expressing support for the SEC proposal Disclosure of Payments by Resource Extraction Issuers, File Number S7-29-14. The proposal would require machine-readable XBRL for the disclosure of payments by resource extraction firms. It is designed to provide more information to global commodity markets, and to hold governments accountable for the […]
The US Securities and Exchange Commission have announced that on March 9 the EDGAR system will be updated to handle the following taxonomies: US GAAP 2020 Taxonomy; SEC Reporting 2020 Taxonomy; COUNTRY 2020 Taxonomy; CURRENCY 2020 Taxonomy; EXCH 2020 Taxonomy; and SIC 2020 Taxonomy. Additionally, the SEC will remove the 2012 and 2013 INVEST Taxonomies […]
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