On April 14, 2016, XBRL US submitted a comment letter to the Securities and Exchange Commission responding to their Concept Release on Transfer Agent Regulations which proposes expanding financial disclosures made by transfer agents. The release also requests comment on the use of standards in corporate actions processing. Key recommendations include:
- Requiring the use of inline XBRL for additional financial disclosures made by transfer agents
- Adopting the XBRL standard for corporate actions processing to improve timeliness, accuracy and to reduce interpretation risks and costs
Read the comment letter.