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Tuesday, December 31, 2019

U.S. Federal Data Strategy – 2020 Action Plan Published

The U.S. Federal Data Strategy Plan, which provides a common set of data principles and best practices in implementing data innovations, was published on December 31, 2019. Annual action plans identify and prioritize practice-related steps for the year, and include targeted time frames and responsible entities. The plan outlines Agency Actions, Community of Practice Actions, and […more]

Monday, December 30, 2019

GREAT Act, for Grants Reporting, Signed into Law

The GREAT (Grants Reporting Efficiency and Transparency) Act, which  calls for data standards in grants reporting, was signed into law by the President on December 30, 2019. Key provisions of the bill include: Section 2. Purpose. The legislation is designed to modernize reporting by Federal grants recipients; implement recommendations of the Office of Management and […more]

Friday, December 20, 2019

GREAT Act Passes House and Senate

The GREAT (Grants Reporting Efficiency and Transparency) Act was passed by both the House and the Senate and now awaits the President’s signature. The GREAT Act calls for data standards in grants reporting, and defines data standards as those that will: “(1) render information reported by recipients of Federal awards fully searchable and machine-readable; “(2) be nonproprietary; […more]

Thursday, December 19, 2019

FERC Announces Public Taxonomy Review and Technical Conference Open to the Public

The Federal Energy Regulatory Commission (FERC) announced that the initial draft of the FERC Taxonomy, which the Commission has been developing for entities filing FERC forms 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 6-Q, 60 and 714, is now available, along with supporting documents, at https://www.ferc.gov/docs-filing/forms/forms-refresh.asp. The taxonomy can be viewed in […more]

Wednesday, December 18, 2019

SEC Proposes XBRL for Resource Extraction Issuers

The SEC published a rule proposal on Disclosure of Payments by Resource Extraction Issuers.  The rule would require resource extraction issuers to include in an annual report information relating to payments made to a foreign government or the Federal Government for the purpose of the commercial development of oil, natural gas, or minerals. Section 13(q) requires these […more]

Friday, December 6, 2019

XBRL US Comments on LEI Eligibility for Government Entities

XBRL US submitted a comment letter to the Regulatory Oversight Committee (ROC) in response to a Consultative Document on LEI Eligibility for General Government Entities. Our comment letter made the following points: Collecting government financial data in U.S. markets, in an efficient, automatable fashion is becoming a more likely scenario, given recent initiatives driving greater […more]

Tuesday, December 3, 2019

XBRL US Comments on SEC Proposal: Statistical Disclosures for Banks

XBRL US submitted a comment letter responding to the SEC proposal, Update of Statistical Disclosures for Banks and Savings and Loan Registrants. The letter noted that we strongly disagree with the proposal as stated which does not require the use of data standards for reported information that is highly financial in nature. Data reported through Guide […more]

Monday, November 25, 2019

Novaworks LLC on XBRL US Taxonomy Development Handbook

Novaworks LLC posted a blog describing the newly released Taxonomy Development Handbook (TDH). Read the blog. Access the TDH and participate in the public review.

Thursday, November 21, 2019

Standards Development Handbook Published for Comment by XBRL US

Regulators, data analytics & software providers, reporting entities are invited to review XBRL US, the nonprofit standards organization, published an initial exposure draft of the Taxonomy Development Handbook (TDH), a comprehensive guide that directs regulators, industry experts, and businesses through a practical, consistent roadmap to building high quality data standards using XBRL. The handbook walks […more]

Tuesday, November 19, 2019

LEI Eligibility for Government Entities – Comment Sought by ROC LEI

The Regulatory Oversight Committee (ROC) for the legal entity identifier (LEI) is seeking comments on its consultative document on LEI Eligibility for General Government Entities. The ROC is an international standard setting body that provides oversight to the Global Legal Entity Identifier Foundation (GLIEF). The GLEIF sought guidance from the ROC about the use of […more]