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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The Securities and Exchange Commission published a rule proposal on “Updated Disclosure Requirements and Summary Prospectus for Variable Annuity and Variable Life Insurance Contracts” that would require the use of Inline XBRL. The proposal notes: “We are proposing to require the use of the Inline XBRL format for the submission of certain required disclosures in […more]
XBRL US submitted a letter in response to the SEC’s Request for Comment about the Fund Retail Investor Experience. Thanks goes to our members who joined a short-term working group to discuss and prepare the letter. The letter explains the benefits of data standards and in particular, how they benefit retail investors: “While few retail […more]
SEC Commissioner Kara Stein gave an address to the Council of Institutional Investors named “Improving Information for Investors in the Digital Age”. Here are some notable quotes from the Commissioner: …Just a few weeks ago, a group of institutional investors, asset managers, state treasurers, and others petitioned the SEC. They asked the Commission to require […more]
SEC Launches Strategic Hub for Innovation and Financial Technology (FinHub). The FinHub will serve as a resource for public engagement on the SEC’s FinTech-related issues and initiatives, such as distributed ledger technology (including digital assets), automated investment advice, digital marketplace financing, and artificial intelligence/machine learning. FinHub activities include: 1) Provide a portal for industry and the public […more]
IFRS Foundation Proposes Updates to IFRS Taxonomy 2018, Requests Comment During a Public Review. The Proposed Update includes common reporting practice for disclosure requirements in IFRS 13, such as: 1) sensitivity of fair value measurement to changes in unobservable inputs; and 2) quantitative information about significant unobservable inputs used in fair value measurement. The public comment […more]
In this issue:
On October 5, Marc Joffe of the Reason Foundation published an article on Financial Reporting Standards Can Foster Municipal Market Disruption in the Financial Revolutionist. Below is an excerpt from the article: “While fintech start-ups are disrupting many financial markets, the US municipal bond market has been largely left behind. As a result, the $3.9-trillion muni […more]
The Securities and Exchange Commission’s interactive data test suite has been updated. Comments on the test suite may be submitted via email to StructuredData@sec.gov indicating “Interactive Data Test Suite” in the subject field. The purpose of the public test suite is to assist filers using software to validate Interactive Data prior to its submission to EDGAR. The test […more]
The Securities and Exchange Commission proposed a rule on Financial Disclosures about Guarantors and Issuers of Guaranteed Securities and Affiliates Whose Securities Collateralize a Registrant’s Securities. The Commission is looking for comment on this proposal within 60 days of October 2, 2018, the date of publication of the proposal in the Federal Register. The proposal […more]
Axios Advisors’ Triet Nguyen published an article on how financial data standards can impact municipal reporting: The “stodgy” municipal market is on the verge of a Big Data revolution, driven by rising support for adoption of iXBRL, a machine-readable financial reporting standard, and an increasing need for ESG-related data. Read the full article.
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