FERC Extends Public Taxonomy Review to Mar 2. Technical Conference Rescheduled to Mar 24-26.

On January 21, 2020, the Federal Energy Regulatory Commission (FERC) announced plans to extend the public review period by 45 days because of a request for more time from industry representatives. The review period will now close on March 2, 2020. In addition, the technical conference, which will be open to vendors, issuers and the […more]


U.S. Federal Data Strategy – 2020 Action Plan Published

The U.S. Federal Data Strategy Plan, which provides a common set of data principles and best practices in implementing data innovations, was published on December 31, 2019. Annual action plans identify and prioritize practice-related steps for the year, and include targeted time frames and responsible entities. The plan outlines Agency Actions, Community of Practice Actions, and […more]


GREAT Act, for Grants Reporting, Signed into Law

The GREAT (Grants Reporting Efficiency and Transparency) Act, which  calls for data standards in grants reporting, was signed into law by the President on December 30, 2019. Key provisions of the bill include: Section 2. Purpose. The legislation is designed to modernize reporting by Federal grants recipients; implement recommendations of the Office of Management and […more]


GREAT Act Passes House and Senate

The GREAT (Grants Reporting Efficiency and Transparency) Act was passed by both the House and the Senate and now awaits the President’s signature. The GREAT Act calls for data standards in grants reporting, and defines data standards as those that will: “(1) render information reported by recipients of Federal awards fully searchable and machine-readable; “(2) be nonproprietary; […more]


FERC Announces Public Taxonomy Review and Technical Conference Open to the Public

The Federal Energy Regulatory Commission (FERC) announced that the initial draft of the FERC Taxonomy, which the Commission has been developing for entities filing FERC forms 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60 and 714, is now available, along with supporting documents, at https://www.ferc.gov/docs-filing/forms/forms-refresh.asp. The taxonomy can be viewed in […more]


Senate Passes GREAT (Grants Reporting Efficiency & Agreements Transparency) Act

The U.S. House of Representatives passed the Grants Reporting Efficiency and Agreements Transparency (GREAT) Act (H.R. 4887). A Senate version (S. 3834), introduced by Senators James Lankford (OK) and Michael Enzi (WY), was passed by the Senate Homeland Security and Governmental Affairs Committee.


XBRL US Supports Financial Transparency Act (FTA)

XBRL US supports the Financial Transparency Act (FTA) (HR 4776), which was reintroduced on September 24, 2019 by Carolyn Maloney (NY-D), Chair of the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets, of the House Financial Services Committee, and by Patrick McHenry (NC-R), Ranking Member of the Subcommittee. This is a very important bill for […more]


Newsletter for the Reporting Standard of Business and Government

January, 2020 2020 will be a critical year for the modernization of government and regulatory reporting. On December 30, 2019, the President signed the Grants Reporting Efficiency And Transparency (GREAT) Act (https://www.congress.gov/bill/116th-congress/house-bill/150) into law, which requires the use of data standards in grants reporting. The GREAT Act dovetails with the President’s Management Agenda, Results-Oriented Accountability […more]


December 2019 Newsletter

December, 2019 Happy New Year! The stage is set for a great 2020, thanks to the work of our members on critical projects in 2019: Completing the Taxonomy Development Handbook (a multi-year project), the Style Guide and other building blocks to create good quality taxonomies; Building more data quality rules and guidance to give issuers […more]


October / November 2019 Newsletter

October / November 2019 Legislative and Regulatory News ROC of the LEI Seeks Comment on LEI for Government Entities SEC Proposes Inline XBRL for Fee Calculation Tables and Fee Footnotes Senate Passes GREAT (Grant Reporting Efficiency and Agreements) Act SEC Proposes Update of Statistical Disclosures for Banks and Savings and Loan Registrants FASB Proposes Updates […more]