Updates

Posted Monday, November 4, 2019

XBRL US CEO Participated in SEC Fixed Income Market Structure Advisory Committee

The Securities and Exchange Commission’ Fixed Income Market Structure Advisory Committee held a meeting on November 4, 2019 which addressed “Structured Disclosures by Municipal Issuers” featuring XBRL US CEO Campbell Pryde. Key messages conveyed during the panel included how XBRL data standards can be used to improve the efficiency and effective of municipal reporting. Separately, […more]

Posted Monday, November 4, 2019

Reason Foundation Comments on SEC FIMSAC Discussion on Structured Municipal Disclosures

The Securities and Exchange Commission’ Fixed Income Market Structure Advisory Committee held a meeting on November 4, 2019 which addressed “Structured Disclosures by Municipal Issuers” featuring speakers from Municipal Securities Rulemaking Board (MSRB), Will County, IL, Municipal Market Analytics, XBRL US, and the Securities and Exchange Commission. Marc Joffe and Spencer Purnell of XBRL US […more]

Posted Monday, October 28, 2019

FASB Chairman to Address Importance of Standardized Data in Setting Accounting Standard, at XBRL Investor Forum, Nov 4 in NY

FASB Chairman Russ Golden to keynote XBRL US Investor Forum.

Topics to be covered include blockchain, artificial intelligence, new reporting domains like municipal securities reporting, and more.

Posted Thursday, October 24, 2019

SEC Proposes Inline XBRL for Fee Calculation Tables and Fee Footnotes

The SEC published a new rule proposing that Inline XBRL tagging be required for all fee calculation table and fee footnotes in fee bearing filings, including Funds and Transactional 1933 Act filings, tender offers, proxies (with fees), etc. On page 10 of the rule: amend most fee-bearing forms, schedules and statements to provide that each […more]

Posted Tuesday, October 22, 2019

XBRL US Comments on SEC Modernization of Reg S-K

XBRL US submitted a comment letter responding to the SEC proposal, Modernization of Regulation S-K Items 101, 103, and 105. The Commission proposes various changes in disclosure requirements related to Item 101 for business description, Item 103 for legal proceedings and Item 105 for risk factors. The proposed amendments are intended to improve the readability of […more]

Posted Wednesday, October 2, 2019

SEC Proposes Update of Statistical Disclosures for Banks

On September 17, 2019, the SEC published a rule proposal: Update of Statistical Disclosures for Bank and Savings and Loan Registrants.  Today, that proposal was posted on the Federal Register, with an official publication date of October 3. Comment letters are due 60 days from the date of publication in the Federal Register. A proposal […more]

Posted Wednesday, October 2, 2019

SEC Test Filing Warnings Q&A

SEC Test Filing Warnings Q&A Filing Results & Quality Checks Check Your Filing with Data Quality Rules SEC Test Filing Warnings Q&A Aggregated Real-time Filing Errors This Q&A is intended as general guidance prepared by the XBRL US DQC (Data Quality Committee), and should not be relied upon as authoritative. Filers are encouraged to consult […more]

Posted Tuesday, September 24, 2019

XBRL US on SEC Concept Release: Harmonizing Exempt Securities Offering

XBRL US submitted a comment letter responding to the SEC Concept Release on Harmonization of Securities Offering Exemptions. The XBRL US letter noted that the Commission could more effectively meet its goal of simplifying and harmonizing the exempt offering framework by requiring all reporting entities to use the same consistent method to report the same disclosures. […more]

Posted Friday, September 20, 2019

Center for Data Quality

Driven by a shared mission to improve the usability of XBRL data, members of the Center for Data Quality have contributed funding and other resources to support the Data Quality Committee’s initiative to address the public’s concerns about the quality and usability of XBRL financial data filed with the SEC. The Committee is responsible for developing […more]

Posted Thursday, September 19, 2019

Proposed Updates to 2020 US GAAP Financial Reporting Taxonomy

The Financial Accounting Standards Board (FASB) has published the following Proposed Accounting Standards Updates for public comment: Proposed Accounting Standards Update (Revised)—Debt (Topic 470)—Simplifying the Classification of Debt in a Classified Balance Sheet (Current versus Noncurrent) (Revision of Exposure Draft Issued January 10, 2017). The proposed taxonomy improvements added elements for disclosures of debt in […more]