The original bill, SB 598, which was introduced by Senator John Moorlach, has been amended to eliminate the mandate for XBRL, but it continues to include the creation of a 9-member commission to write a report to the legislature recommending further action towards the use of Inline XBRL for state and local government financial filings. […more]
Items tagged with "standards"
On April 9, 2019, the Securities and Exchange Commission posted to the Federal Register a proposal to require the use of structured data for: Business Development Companies (BDC) submitting financial statement information using Inline XBRL; BDCs and closed end funds (CEF) to include structured covered page information in their registration statements on Form N-2 using […more]
In March 2018, the state of Florida passed HB 1073, legislation requiring the use of XBRL for municipal financial reporting. On April 1, the Request for Proposal was issued. Read the RFP.
On March 28, 2019, the Federal Energy Regulatory Commission (FERC) published a proposal, “Inquiry Regarding the Commission’s Electric Transmission Incentives Policy” regarding Form 730, Report of Transmission Investment Activity. This report contains data about actual and projected electric transmission capital spending. One of the questions raised in the proposal is: Should the Commission upgrade the […more]
On March 21, 2019, XBRL US submitted a comment letter responding to the SEC proposal, Request for Comment on Earnings Releases and Quarterly Reports stating our support for quarterly filing. Quarterly reporting is beneficial to investors, other data consumers, and to reporting entities. The earnings announcement and the Form 10-Q are very different documents, and […more]
On March 20, the SEC finalized the FAST Act Simplification and Modernization of Regulation S-K Rule which includes a requirement for registrants to tag all cover page data in Inline XBRL. The objective of this section of the rule is to “further enhance investors’ use of interactive data to identify, count, sort, compare, and analyze […more]
On February 22, 2019, California State Senator John Moorlach introduced Senate Bill 598, legislation to enact the Open Financial Statements Act which, if passed, will do the following: Create the Open Financial Statement Commission, consisting of seven members appointed by the Governor Require the newly created Commission to contract with vendors to build an XBRL […more]
On March 13, 2019, XBRL US submitted a comment letter responding to the SEC proposal, Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts, File Number S7-23-18. Variable annuities represent a $96 billion industry, according to LIMRA Secure Retirement Institute (2017 figures)*. XBRL US supports the Commission proposal to require reporting […more]
XBRL US has submitted a comment letter responding to the Federal Energy Regulatory Commission (FERC) proposal to require the use of XBRL for reporting Commission Form Nos. 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60, and 714 for utilities. The Commission proposal sought input first, on whether the XBRL standard should be […more]
On February 22, 2019, the Federal Energy Regulatory Commission (FERC) published an RFP to replace their current VFP Forms and applications with a technical XBRL solution that allows filers to file in a system that uses XBRL and to allow Commission staff to update taxonomies, filing, and reporting requirements for these Forms independent of IT […more]