XBRL US submitted a comment letter in response to the Securities and Exchange Commission (SEC) extension of data collection of Rule 17g-7 regarding disclosure requirements for credit rating agencies (Nationally Recognized Statistical Rating Organizations (NRSRO)). Credit ratings agencies today are required to report ratings data in XBRL format. Our letter expressed support for the continuation […more]
News from XBRL International
- SEC filings data now available via APIs - June 18, 2021
- Beyond the usual suspects: XBRL avenues to explore in India - June 18, 2021
- Plenty to consider on climate disclosures for SEC - June 18, 2021
- Incorrect dates: Another common ESEF issue - June 18, 2021
- Milestone EU agreement on public country-by-country tax reporting - June 18, 2021
- XBRL Taxonomy Update, June 21, 2021 - June 23, 2021
- Reminder of Upcoming Final Phase-In Date for Inline XBRL for Operating Companies - June 11, 2021
- SEC Interactive Data Test Suite Update 58d-210524 - June 3, 2021
- Inappropriate Use of Continuing Operations Elements in the Statement of Cash Flows - May 25, 2021
- FASB Issues Proposed Updates for Future* Taxonomies Related to Proposed ASU on Fair Value Hedging - May 13, 2021
From the Federal Register
- Adoption of Updated EDGAR Filer Manual, Form ID Amendments - May 11, 2021
- Electric Transmission Incentives Policy Under Section 219 of the Federal Power Act - April 26, 2021
- Market Data Infrastructure - April 9, 2021
- Commission Information Collection Activities (FERC Form Nos. 2 and 2-A); Comment Request; Extension; Errata Notice - April 6, 2021
- Holding Foreign Companies Accountable Act Disclosure - April 5, 2021
The Securities and Exchange Commission (SEC) announced that they will be conducting a pilot phase to implement their final rule, Securities Offering Reform for Closed-End Investment Companies. The pilot phase will start with the next major EDGAR system update in September 2021 for a 4 month period (ending January 31, 2022). The Closed-End Investment Company […more]
XBRL US submitted a letter responding to the Securities and Exchange Commission (SEC) request for input on Climate Change Disclosures. Key recommendations made in the letter: The SEC should play a key role in the process of standardizing climate-related disclosures, to ensure that standards set globally are suited for U.S. listed companies, as many U.S. […more]
May, 2021 Financial Transparency Act (FTA) reintroduced to 117th Congress. This important bill, if passed, calls for eight financial regulatory agencies to require data standards for their reporting entities. The FTA was reintroduced on May 4, 2021, as H.R. 2989 by co-sponsors Carolyn Maloney (D-NY) and Patrick McHenry (R-NC). Agencies named in the bill include […more]
SEC Commissioner Allison Herren Lee’s speech, Living in a Material World: Myths and Misconceptions about “Materiality”, addressed, among other topics, the importance of the investor in determining what is “material” and should be disclosed, including ESG-related data. The commissioner’s talk concluded with these remarks: “We must not operate under the false assumption that the securities laws […more]
The Data Quality Committee released version 14 of freely-available rules and guidance in February.These 66 rules are automated checks helping US GAAP and IFRS filers detect and resolve inconsistencies or errors in XBRL-formatted financials before submission to the Securities and Exchange Commission.
The Financial Transparency Act (FTA) was reintroduced to the 117th Congress by co-sponsors, Representatives Carolyn Maloney (D-NY) and Patrick McHenry (R-NC) as H.R. 2989. If passed, the FTA will improve government operating efficiency by streamlining regulatory reporting. It calls for eight financial regulatory agencies of the U.S. Financial Oversight Council (FSOC) to adopt and apply […more]
Sustainability and climate issues remain in the headlines in the US and Europe. US Treasury Secretary Janet Yellen gave a compelling speech this month outlining Treasury’s “whole-of-government” approach to climate change, emphasizing the importance of ESG data, and Treasury’s intent to work with the Securities and Exchange Commission (SEC) to ensure an effective approach to […more]
The US SEC knows a good thing when it sees it. They support the Data Quality Committee rules in the 2021 US GAAP Taxonomy.
Are you using a tool or service that checks your filing with these rules? Finding and fixing issues identified prior to filing gives the markets a clear picture of your company financials.
See real-time company-specific data quality filing results.
On April 27, 2021, the Securities and Exchange Commission published their proposed collection and comment request on the existing collection of information from Nationally Recognized Statistical Rating Organizations (NRSRO) to the Federal Register. NRSROs are required to disclose credit rating histories in XBRL format using the SEC’s Record of Credit Ratings Taxonomy. Comments are due […more]