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Structured data (XBRL) to improve accuracy and timeliness, and reduce cost in the corporate actions process

Join us at the XBRL and Corporate Actions Forum to discuss how XBRL can improve the corporate actions process.  Today’s corporate actions messaging is manual and inefficient, rife with potential errors, high costs and lack of timeliness.  The XBRL data standard is in widespread use by public companies today, making  data computer-readable, more transparent, accurate and timely.  XBRL could improve corporate actions processing by eliminating the need for manual rekeying and scrubbing of data. Hear from keynote speakers:

  • Alan Smith, Managing Director, Securities and Fund Services
  • Mike Starr, Director of Strategic Initiatives, WebFilings, formerly Deputy Chief Accountant of Policy and Market Risk at the United States Securities and Exchange Commission

Panel sessions will cover:

  • Lessons Learned from Public Company Reporting to the SEC in XBRL
    Almost 50,000 XBRL-formatted financial statements have been filed to date to the SEC from over 8,900 companies, resulting in multiple years of historical data in XBRL format.  This panel will discuss the challenges for preparers reporting in XBRL, and the benefits for investors, regulators and other stakeholders in now having access to more timely, accurate, granular and ultimately, more actionable financial data from public companies.  Results from the XBRL implementation for SEC reporting will be extrapolated to explore the potential for XBRL data in corporate actions.

    • Virginia Meany, Assistant Director, Office of Risk Assessment and Interactive Data, United States Securities and Exchange Commission
    • Matthew C. Birney, Director of Financial Reporting, United Technologies Corporation
    • David Coluccio, Director Content Strategy/Innovation, Thomson Reuters
    • Campbell Pryde, President and CEO, XBRL US
    • Sara Noble, Director, BlueMatrix
  • XBRL Corporate Actions Case Study – Results from a Pilot Program
    XBRL has been successfully implemented in a pilot program that demonstrates the potential for streamlining, cost reduction and improved accuracy in the processing of dividend announcements.  Learn how Citibank, JP Morgan and the Bank of New York have been reporting corporate actions messages for their ADR (American Depositary Receipt) programs to downstream stakeholder groups including the DTCC.  This panel will describe the costs involved in implementation and the efficiencies recognized when converting from yesterday’s paper-based system to structured data with XBRL.

    • Michael Silverence, Vice President, BNY Mellon
    • Tom Crane, Director, Citi
    • Joyce Rosen, Product Manager, DTCC
    • Len Lipton, Managing Director, GlobeTax
    • Paul Martin, Executive Director, JP Morgan
  • XBRL for Corporate Actions – Impact of a Full Implementation
    Corporate actions processing today is a highly manual, inefficient process rife with potential errors, high costs and lack of timeliness.  This panel will bring together important stakeholders in the management of corporate actions to discuss how XBRL would transform and improve that process.   Costs and benefits of implementation will be discussed.

    • Alan Smith, Managing Director, Securities and Fund Services, Citi
    • Paul Conn, President, Global Capital Markets Group, Computershare
    • Dan Thieke, Managing Director, DTCC
    • Patricia Casimates, Vice President for Market Operations, FINRA
    • Cynthia Meyn, Executive Vice President of Operations, PIMCO