Items tagged with "government"

Financial Revolutionist Article on Standards for Municipal Market Disruption

On October 5, Marc Joffe of the Reason Foundation published an article on Financial Reporting Standards Can Foster Municipal Market Disruption  in the Financial Revolutionist. Below is an excerpt from the article: “While fintech start-ups are disrupting many financial markets, the US municipal bond market has been largely left behind. As a result, the $3.9-trillion muni […more]

SEC Proposes Rule on Disclosures About Guaranteed Securities

The Securities and Exchange Commission proposed a rule on Financial Disclosures about Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant’s Securities. The Commission is looking for comment on this proposal within 60 days of October 2, 2018, the date of publication of the proposal in the Federal Register. The proposal […more]

The coming data revolution in public finance.

Axios Advisors’ Triet Nguyen published an article on how financial data standards can impact municipal reporting: The “stodgy” municipal market is on the verge of a Big Data revolution, driven by rising support for adoption of iXBRL, a machine-readable financial reporting standard, and an increasing need for ESG-related data. Read the full article.

House Passes Grants Reporting Efficiency & Agreements Transparency (GREAT) 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.

SEC Commissioner Stein on Data & Technology

On September 27, 2018, SEC Commissioner Kara Stein gave a speech at Georgia State University School of Law titled “From the Data Rush to the Data Wars: A Data Revolution in Financial Markets” which focused on the importance of data and technology. Below is an excerpt from the speech. “Slowly but surely, the Commission is […more]

XBRL US Comments on Financial Stability Board Thematic Peer Review on the LEI

XBRL US submitted a comment letter to the Financial Stability Board, in response to their Thematic Peer Review on Implementation of the Legal Entity Identifier (LEI). Feedback from stakeholders was invited to gauge awareness and implementation, as well as challenges and impediments to adoption of the LEI around the world. According to the Global LEI […more]

XBRL US Comments on Government Effectiveness Advanced Research (GEAR) Center

XBRL US comments on Government Effectiveness Advanced Research (GEAR) Center, a proposed public/private partnership, “re-imagining possibilities for how citizens interact with the Government; rethinking the delivery of citizen services and data; reforming core processes.”

July/August Newsletter

July/August 2018 Regulatory and Legislative News SEC EDGAR Upgraded to Release 18.2, Now Supports IFRS Taxonomy XBRL US News XBRL US Data Quality Committee Announces the Public Review of the 7th Ruleset XBRL US State & Local Govt Working Group Sends Letter to SEC Investor Advisory Committee AICPA Study Demonstrates that XBRL Costs Declined 45% […more]

Financial Stability Board Peer Review on LEI Solicits Marketplace Feedback

The Financial Stability Board (FSB) is conducting a review on implementation of the Legal Entity Identifier (LEI). The objective of the review is to evaluate the progress made by FSB members – both national authorities and international bodies – in response to the G20 Leaders’ 2012 call for “global adoption of the LEI to support […more]

Reason Foundation Article on XBRL US State & Local Govt Initiative

On August 17, Marc Joffe of the Reason Foundation published an article on Making Government Documents Searchable and Machine-Readable to Improve Transparency and Accountability which states: “In Florida, and nationally, Reason Foundation is working to improve the accounting transparency of state and local governments by seeking the mandatory disclosure of government financial documents in a machine-readable […more]