Media

Tuesday, May 4, 2021

White House Executive Order on Climate-Related Financial Risk

The White House published an Executive Order on Climate-Related Financial Risk, which addressed the plan to establish “…within 120 days of the date of this order, a comprehensive, Government-wide strategy regarding: (a)  the measurement, assessment, mitigation, and disclosure of climate-related financial risk to Federal Government programs, assets, and liabilities in order to increase the long-term […more]

Financial Transparency Act (H.R. 2989) Reintroduced to 117th Congress

The Financial Transparency Act (FTA) was reintroduced to the 117th Congress by co-sponsors, Representatives Carolyn Maloney (D-NY) and Patrick McHenry (R-NC) as H.R. 2989. If passed, the FTA will improve government operating efficiency by streamlining regulatory reporting. It calls for eight financial regulatory agencies of the U.S. Financial Oversight Council (FSOC) to adopt and apply […more]

Tuesday, April 27, 2021

SEC Proposed Data Collection from NRSROs

On April 27, 2021, the Securities and Exchange Commission published their proposed collection and comment request on the existing collection of information from Nationally Recognized Statistical Rating Organizations (NRSRO) to the Federal Register. NRSROs are required to disclose credit rating histories in XBRL format using the SEC’s Record of Credit Ratings Taxonomy. Comments are due […more]

Wednesday, April 21, 2021

European Commission Proposes CSRD Requiring iXBRL for ESG Disclosures

On April 21, 2021, the European Commission adopted a package of sustainability-related measures including its proposal for a Corporate Sustainability Reporting Directive (CSRD) which aims to make corporate reporting of sustainability measures more consistent, comparable and reliable. The CSRD, as proposed, will require the use of Inline XBRL for the reporting of environmental, social and […more]

Treasury Secretary Yellen Comments on ESG Disclosures

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]

Tuesday, April 20, 2021

XBRL US Data Quality Committee Public Exposure of 15th Ruleset for US GAAP and IFRS Filers

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]

Friday, April 16, 2021

Gary Gensler Confirmed as Chair of the Securities and Exchange Commission

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.

Thursday, April 15, 2021

Forbes Article “The SEC’s Technology Modernization is Accelerating – Are You Ready?”

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]

Friday, April 2, 2021

Federal Agencies RFI on Financial Institutions Use of AI & Machine-Learning

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]

SEC Adopts Interim Final Amendments: Holding Foreign Companies Accountable Act

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]