SEC to consider mandatory iXBRL, other structured data questions.
On Wednesday, 1 March 2017, the US SEC will meet to consider a number of issues being put to the Commission. Of particular interest to our stakeholders around the world is the third item on the agenda:
The Commission will consider whether to propose amendments to rules and forms to require the use of the Inline XBRL format for the submission of operating company financial statement information and mutual fund risk/return summaries, eliminate the requirement for filers to post Interactive Data Files on their websites and terminate the Commission’s voluntary program for the submission of financial statement information interactive data that is currently available only to investment companies and certain other entities.
Acting Chairman Michael Piwowar in a speech last Friday that focussed on disclosure reform spoke of these (and other reforms) as being aimed at the “forgotten investor”. We’ll have more on this after the meeting.
