XBRL US responded to the Securities and Exchange Commission (SEC) request for comment on their Regulatory Flexibility Agenda in a letter raising the following points:
- Urged the Commission to require information disclosed to be prepared in conformance with a semantic data model to ensure that data provided to data consumers is highly-functional, machine-readable, aligned with FDTA requirements, and optimized for reliable, efficient AI use.
- Require a taxonomy to be used in conjunction with data collections rather than build custom XML or JSON schemas. Taxonomies will enable interoperability across datasets, ease change management, enable economies of scale, and give the Commission access to built-in validation checks.
- Agreed with the Commission goal to reduce reporting burden but noted that it should not be conducted at investor expense.
- Asked the Commission to consider all the various disclosure-related rules in their totality as there is significant overlap between rules.
Read the letter: XBRL US Letter SEC Regulatory Agenda File Number S7-2026-16
