Get the latest news and information about XBRL in the United States. We're also on Twitter with breaking news - twitter.com/xbrlus, and updated event listings - twitter.com/xbrlevents.
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SEC Reporting || Industries || Government || Using Data
On December 7, 2020, the Municipal Securities Rulemaking Board (MSRB) published a notice requesting input on their strategic goals and priorities to help them assess the long-term direction of the MSRB. They are looking for input on how the MSRB is fulfilling its Congressional mandate to develop rules and systems to support the municipal securities […more]
The Securities and Exchange Commission’s Asset Management Advisory Committee published on December 1, 2020, the potential recommendations of its ESG (Environmental Social Governance) Subcommittee which focused on the adoption of standards for disclosures from issuers and for ESG investment products: Recommendations Regarding Issuer Disclosure of ESG Risks: The SEC should require the adoption of standards […more]
On November 25, 2020, the Commodity Futures Trading Commission (CFTC) adopted the final rule “Swap Data Record Keeping and Reporting Requirements”. XBRL US submitted a comment letter in response to the proposed rule in May of this year in which we made two recommendations: 1) we agreed with the proposed expansion of the use of […more]
On November 19, the Securities and Exchange Commission adopted the final rule Management’s Discussion and Analysis, Selected Financial Data, and Supplementary Financial Information. The final amendments do not require registrants to structure disclosures required by the amendments in a machine-readable format as we proposed in the XBRL US comment letter submitted. Our comment letter suggested […more]
SEC Commissioner Allison Herren Lee gave a keynote presentation “The Promise of Structured Data: True Modernization of Disclosure Effectiveness” at the XBRL US Investor Forum: Ready for Anything – Using Data in Perilous Times. Her speech focused on the importance of data quality (and notes the contribution to quality improvements made by the XBRL US […more]
Keynote remarks from Securities and Exchange Commissioner Allison Herren Lee at PLI’s 52nd Annual Institute on Securities Regulation on November 5, addressed “Playing the Long Game: The Intersection of Climate Change Risk and Financial Regulation”. Commissioner Lee noted in her talk: “… investors, asset managers responsible for trillions in investments, issuers, lenders, credit rating agencies, analysts, […more]
The Securities and Exchange Commission published a rule proposal to the Federal Register, Tailored Shareholder Reports, Treatment of Annual Prospectus Updates for Existing Investors, and Improved Fee and Risk Disclosure for Mutual Funds and Exchange-Traded Funds; Fee Information in Investment Company Advertisements, which aims to modernize the disclosure framework for open end management investment companies. […more]
The Securities and Exchange Commission announced that the IFRS Foundation has published a proposed update to the IFRS Taxonomy 2020 for public comment. The taxonomy updates address topics including earnings per share, employee benefits expenses and share-based payment expenses, as well as the effect of changes in foreign exchange rates. Comments should be sent directly […more]
The Securities and Exchange Commission announced that the FASB has issued a proposed XBRL US Data Quality Committee (DQC) Rules Taxonomy, along with a Technical Guide on the US GAAP Taxonomy and the DQC Rules Taxonomy. Read the SEC announcement Visit the Taxonomy Read the FASB Technical Guide
The XBRL US Regulatory Modernization Working Group, led by chair John Truzzolino, sent a letter to the SEC COO Kenneth Johnson to make suggestions related to the establishment of a pilot program for the SEC proposal on Filing Fee Disclosures and Payments Modernization. Suggestions made include allowing vendors access to an EDGAR testing system prior […more]
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