PoV Archive

Every once in awhile a data collection process comes along that is ripe for standardization – the Department of Labor’s (DOL) Form 5500 Annual Report for pension fund data is one such system. The DOL’s Employee Benefits Securities Administration (EBSA) published proposal to modernize the data collection process of the annual report and corresponding schedules, with an eye towards giving data users the ability to perform better analysis of individual plans, multi-plan comparisons and trends; aid the agencies efforts at enforcement and at monitoring compliance issues; assist auditors; and provide new research opportunities.

Inline XBRL could just tip the scale towards the adoption of standards in corporate actions.

On September 30, XBRL US submitted a comment letter responding to the SEC proposal on Disclosure Update and Simplification. Key recommendations made in the letter include: Ensure that all facts that companies are required to report to investors be provided in a computer-readable format to facilitate greater ease of analysis, Require the use of standardized […more]

On July 21, XBRL US submitted a comment letter in response to the April 13 SEC Concept Release on Business and Financial Disclosures Required by Regulation S-K.  XBRL US members played a key role in preparing the recommendations which encourage the Commission to: make greater use of standards, which offer a clear, consistent framework to communicate reported […more]

XBRL US responds to SEC Concept Release on Transfer Agent Regulations on April 14, 2016, proposing that inline XBRL be used for transfer agent financial disclosures and that data standards be used to improve corporate actions processing.