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On April 21, 2021, U.S. Treasury published remarks given by Secretary of the Treasury Janet Yellen to the Institute of International Finance regarding climate-related issues. In her speech, Secretary Yellen lays out Treasury’s “whole-of-government” approach to climate change, and points out the importance of ESG disclosures as follows: “This brings me to our initiatives to […more]
Attend May 12 webinar for review of data quality trends, plus insights into draft ruleset The XBRL US Data Quality Committee (DQC) has published its 15th Ruleset for a 45-day public review and comment period, which closes on June 2, 2021. This latest draft ruleset contains eight rules specific to US GAAP filers, and one […more]
Gary Gensler has been confirmed by the Senate to lead the Securities and Exchange Commission (SEC) as Chair. Commissioners of the SEC published a short statement congratulating him on the confirmation.
XBRL was named in Forbes April 15 article, The SEC’s Technology Modernization Is Accelerating – Are You Ready? as one of the SEC’s important modernization efforts, noting: “…the SEC has notched significant progress adjusting rules and enforcement in response to technological disruptions over the past two decades. For example, the commission’s 2009 rule requiring the […more]
The Board of Governors of the Federal Reserve System, Bureau of Consumer Financial Protection, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency, have published a Request for Information and Comment on Financial Institutions’ Use of Artificial Intelligence, Including Machine Learning. The goal of the RFI is to […more]
The Securities and Exchange Commission (SEC) announced the adoption of interim final amendments to Forms 20-F, 40-F, 10-K, and N-CSR to implement disclosure and submission requirements of the Holding Foreign Companies Accountable Act (HCFA) Act. The interim final amendments apply to: “…registrants that the Securities and Exchange Commission identifies as having filed an annual report […more]
The Federal Energy Regulatory Commission (FERC) announced that on April 15, 2021, the XBRL taxonomies, validation rules, and rendering files needed for the FERC XBRL rollout will be updated to Release 1.5, and will be available in the Yeti viewer. FERC’s current Visual FoxPro-based system will no longer be available for filings submitted after September […more]
XBRL US member Marc Joffe, chair of the Standard Government Reporting Working Group, and Senior Policy Analyst at the Reason Foundation, weighed in on the need for better revenue and expenditure data from state and local government to appropriately allocate COVID-19 aid funds in his March 16 article published at Federalism.US. Joffe notes: “During the […more]
The Securities and Exchange Commission (SEC) has updated EDGAR to Release 21.1 and now supports these 2021 taxonomies: U.S. GAAP SEC Reporting (SRT) Countries (COUNTRY) Currencies (CURRENCY) Document and Entity (DEI) Exchanges (EXCH) North American Industry Classification System (NAICS) Risk-Return (RR) Standard Industrial Classification (SIC) State and Province (STPR) The SEC announcement indicated that they […more]
The Securities and Exchange Commission has established a new web page to bring together Commission actions and updates on climate and ESG investing. Link to the SEC Climate and ESG Risks and Opportunities page.
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