On January 13, 2026, SEC Chair Atkins issued a Statement on Reforming Regulation S-K, noting, "Today, the disclosure that companies provide in response to the myriad requirements of Regulation S-K does not always reflect information that a reasonable investor would consider important in making an investment or voting decision… The Commission’s disclosure regime should enable a reasonable investor to separate the wheat from the chaff when reviewing periodic reports and proxy statements. With this goal in mind, I have instructed the Division of Corporation Finance to engage in a comprehensive review of Regulation S-K. I welcome and encourage members of the public to provide their views on how the Commission can amend Regulation S-K, with the goal of revising the requirements to focus on eliciting disclosure of material information and avoid compelling the disclosure of immaterial information. “
XBRL US responded to the Statement by noting, "U.S. capital markets are generally considered the most robust in the world, as characterized by size, liquidity, and transparency...While efficiency and reporting burden reduction are important, the disclosure regime established and maintained by the SEC is an important factor in the strength of U.S. markets compared to those in the rest of the world."
Our letter went on to point out that reporting in structured data format using XBRL has been supported by the Commission over the last 17 years, and we encouraged the SEC to continue this approach to the benefit of all capital market stakeholders.
Read the letter: XBRL US Letter RE Reforming Regulation S-K - File Number CLL-15
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