Updates

Posted Sunday, May 1, 2016

FinTech

Technology can automate financial services, creating efficiencies and reducing cost. Accurate, timely information drives financial markets. And within the past two decades, technology-driven data standards have dramatically increased the efficiency of financial products. So it’s only logical to consider how they can be incorporated into fintech offerings. Without data standards, the automation and speed promised by new financial technologies, like […more]

Posted Thursday, April 28, 2016

2016 Surety Work in Process Taxonomy

The 2016 XBRL WIP Taxonomy (Taxonomy) contains concepts for Contractors to prepare Work in Process reports to submit to Surety insurance companies. We encourage all interested parties to review and provide feedback.

Posted Tuesday, April 26, 2016

FinTech Forum Announced: Crowdfunding & Data Standards, June 28, NYC

XBRL US announced a free half-day FinTech Forum: Crowdfunding & Data Standards which will provide an introduction to crowdfunding, the practice of funding a company or initiative by raising monetary contributions from a large number of people, through Internet-based funding portals. The event is hosted by Baruch College’s Zicklin School of Business at their 151 E. 25th Street campus and sponsored by the CFA Institute and features speakers from SEC, FINRA and more.

Posted Friday, April 15, 2016

XBRL US Response to SEC Concept Release on Transfer Agent Regulations

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.

Posted Thursday, February 4, 2016

Frequently Asked Questions – Surety

Posted Thursday, January 7, 2016

XBRL US Announces Public Review of Taxonomy to Improve Surety Bond Processing

XBRL US announced the start of a 60-day public review of the Work in Process (WIP) Taxonomy, developed to evaluate how structured data can streamline surety underwriting data processing to reduce costs and increase timeliness and consistency. AIG, Travelers and Zurich Insurance join to sponsor the program, along with early entries GALLINA LLP, Liberty Mutual and the NASBP.

Posted Wednesday, December 2, 2015

XBRL US Launches Pilot to Improve Surety Bond Processing through Data Standards

XBRL US and three organizations in the surety industry – GALLINA LLP, Liberty Mutual and the National Association of Surety Bond Producers (NASBP) – announced today the launch of a pilot program to evaluate how structured data can streamline surety underwriting data processing to reduce costs and increase timeliness and consistency.

Posted Thursday, June 25, 2015

Data Quality

XBRL US and an alliance of companies have formed the XBRL US Center for Data Quality to address concerns about, and to improve the utility of, XBRL financial data filed with the U.S. Securities and Exchange Commission (SEC).

Posted Wednesday, April 22, 2015

Canada Seminar: Standardizing Corporate Action Data

XBRL Canada is holding a seminar on May 15, 2015 presented by Campbell Pryde, the President and CEO of XBRL US. The event will be held at the Offices of CPA Canada in Toronto on May 15, 2015, from 9:00AM – 12:00 PM (noon). Mr Pryde will show how certain regulators and stock exchanges around the world are considering the use of XBRL to streamline the reporting of Corporate Actions.

Posted Friday, February 27, 2015

Surety

Surety providers review the contractor’s financial statements to identify risks and determine eligibility for surety bonds. Financial statements include a Work in Process (WIP) report that describes the financial performance and status of a contractor’s construction projects. Today’s surety underwriting process is highly manual and therefore, labor-intensive, time-consuming and costly. Working Group Members Using Data […more]