November/December 2017 Newsletter

In late October, The SEC published data sets of mutual fund risk/return data filed in XBRL format. The information is presented without change
from the   “as filed” submissions by each registrant as of the date of the submission. This and other freely available data sets are
accessible in a new Data Library created by the Division of Economic Analysis (DERA). The Data Library provides the public with a central
reference location to access all data sets that DERA makes available.

Download Mutual Fund Risk/Return Data: https://www.sec.gov/dera/data/mutual-fund-prospectus-risk-return-summary-data-sets

Visit the SEC’s Data Library: https://www.sec.gov/dera/data

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In response to the SEC’s request for comment, key recommendations included:

• Require the use of the LEI for those registrants that currently maintain an LEI. Require the LEI to be tagged using Inline XBRL to enable
  automation.
• Establish a roadmap to full adoption of the LEI for all public companies.
• Help issuers understand the value of the LEI for themselves and their stakeholders through educational programs.
• Consider other identifiers such as securities identifiers linked to the LEI; and an LEI that represents individuals.
• Require structured data standards for cover pages. Require Inline XBRL specification (or conventional XBRL if Inline XBRL has not yet
  been adopted by the Commission).
• Educate issuers on how tagged cover page data will be used by corporate stakeholders.
• Require tagging of cover pages for Form 6-K in addition to other filings.
• Consider requiring the tagging of other corporate disclosures such as entire Form 8-Ks that contain financial data, e.g., earnings
  announcements, as well as the MD&A, proxy statement and risk factor sections.

Read the letter from XBRL US: https://xbrl.us/wp-content/uploads/2017/12/XBRL-US-Comment-on-SEC-FAST-Act-Modernization-Proposal-File-No.-S7-08-17.pdf

Respond to the SEC’s request for comment by January 2, 2018: https://www.sec.gov/rules/proposed/2017/33-10425.pdf

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Mohini Singh, Director of Financial Reporting at the CFA Institute, will present findings from a study about the costs that companies, large
and small, bear in preparing and filing their financial information in a structured format. The study will address what can be done to mitigate
those costs so that all parties, including preparers, regulators and users, may avail of the benefits of structured data.

Register for the webinar: https://xbrl.us/events/20180110

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This 60-minute webinar, featuring speakers from the Securities and Exchange Commission and the International Accounting Standards Board, will
address questions raised by foreign private issuers, and will cover a detailed preparers guide to aid issuers, created by the IASB. Those
topics and more will be addressed during this informative, educational program. Participants will have the opportunity to submit questions in
advance of the webinar to shape the discussion.

Register for the webinar: https://xbrl.us/events/20180131

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The XBRL US Investor Forum, held on November 1, featured speakers from the Securities and Exchange Commission, Morgan Stanley, BNY Mellon, CFA
Institute and more.

Watch the videos: https://xbrl.us/forum

Lou Rohman, Vice President, XBRL Services, Merrill Corporation; and Chair, XBRL US Data Quality Committee, explains how Data Quality Committee
rules are used by accountants to check their XBRL work. The article provides evidence demonstrating that the checks are reducing the volume of
errors in public company financial statements today.

Read the post: https://xbrl.us/xusnews/pov
Access the rules and guidance: https://xbrl.us/data-quality/rules-guidance

• How Well Do You Tick & Tie Your XBRL?
  David Tauriello, VP of Operations, XBRL US – https://xbrl.us/tick-and-tie

• XBRL. A Free and Open Reporting Standard,
  Michelle Savage, VP of Communications, XBRL US – https://xbrl.us/free-open-reporting-standard

• Styles Come and Go. Consistency is Timeless.
  Scott Theis, CEO, Novaworks, LLC – https://xbrl.us/styles-come-and-go-consistency-is-timeless

• XBRL A to Z, Enhancing the Standard and Earnings Release Case Study sessions at XBRL US Investor Forum –
  November 1, New York

• Management Presentation to Members, XBRL US Annual General Meeting – November 1, New
  York

• Capture Conference on XBRL standards for capture software – October 5, New York
• Solar Power International on Solar Taxonomy – September 10-13, Las Vegas

The DQC will hold it’s next open meeting on Monday, December 18, from 3 – 5 PM ET.
Get information about the Committee and register to attend: https://xbrl.us/dqc

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• The Domain Steering Committee meeting will be Thursday, January 4 at 3 PM ET.
• The Communications Steering Committee meeting will be Wednesday, January 11 at Noon ET.

XBRL US Members are invited to attend and get involved. Email membership@xbrl.us for details.

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