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The Securities and Exchange Commission (SEC) announced that the FASB had published two new proposed implementation guides based on the 2021 US GAAP Financial Reporting Taxonomy which is currently under consideration by the SEC. The two proposed guides are available during a public comment period as noted below and will cover: Dimensional Modeling for Disclosures […more]
In a recent blog post, Mohini Singh, ACA, Director of Financial Reporting Policy at CFA Institute, points out that “.. demand for sustainability information continues to grow as businesses are increasingly focused on environmental, social and governance (ESG) issues. Investors need it in order to assess how companies are managing these questions and the impact […more]
XBRL US submitted a letter commenting on the Office of Management and Budget (OMB) – Proposed Designation of Databases for Treasury’s Working System Under the Do Not Pay Initiative. The OMB proposal would add 12 databases to the DoNotPay (DNP) web portal, which federal agencies use to evaluate, track, and monitor the individuals and organizations […more]
The Securities and Exchange Commission final rule Administration of the Electronic Data Gathering, Analysis, and Retrieval System was published in the Federal Register. This new rule adopts new Regulation S-T which addresses actions the Commission may take to promote reliability and integrity of EDGAR submissions. The XBRL US Regulatory Modernization Working Group submitted a comment […more]
On February 3, 2021, the Securities and Exchange Commission (SEC) announced that they will be releasing a limited access pilot test environment for beta-testers, to help filers and vendors try out the impact of a new URL that will be used for EDGAR submissions. The test environment, EDGAR BETA, will give filers and vendors early […more]
The Securities and Exchange Commission announced the appointment of Satyam Khanna in a new role as Senior Policy Advisor for Climate and ESG in the office of Acting Chair Allison Herren Lee. This new SEC position will focus on advising the agency on environmental, social, and governance matters, and to advance new initiatives across the […more]
Larry Fink, Chairman and CEO of BlackRock, published a letter to CEOs which included a section on “Why Data and Disclosure Matter”. He reiterates BlackRock’s support for SASB and TCFD standards; advocates a move to a single sustainability standard; encourages private, as well as public companies, to adopt these standards; and notes the importance of […more]
Finextra, an independent newswire and information source for the worldwide financial technology community, published an interview with Campbell Pryde, President and CEO, XBRL US, and Madhu Mathew, Director of Technology at the Sustainability Accounting Standards Board (SASB) in conversation with Richard Peers, founder of ResponsibleRisk Ltd. The discussion addresses financial and non-financial reporting, consolidation, standardization, […more]
XBRL US submitted a letter commenting on the MSRB’s Strategic Goals and Priorities which asks the MSRB to consider how data standards would impact the current EMMA (Electronic Data Municipal Markets Access) data collection and dissemination process. We pointed out that we support the use of data standards to improve efficiencies in the reporting and […more]
XBRL US submitted a comment letter in response to the SEC proposal on 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. The XBRL US letter advocated the use of XBRL for tailored shareholder reports […more]
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