TechTalk Blog – US SEC EXPANDS USE OF XBRL FOR CAPITAL MARKETS ACCOUNTABILITY

By David Colgren posted 11-05-2015 09:26 AM

  

Attended the XBRL US - "Improving Financial Analysis Through Structured Data" Conference yesterday at Baruch College.

Excited to hear from Mike Willis, Assistant Director, Office of Economics and Risk Analysis, US SEC speak about structured data (XBRL) and its use at the US SEC and former IMA TSP Committee member.

Impressed by his comments - "Stunned by XBRL's use at the US SEC" and "Momentum is increasing in its use in other areas of regulatory reporting at the US SEC besides financial statement data reporting such as executive compensation, proxy and crowdfunding" and "XBRL or "structured data" is mentioned in seven US SEC rules or proposed rules of the US SEC in the past 12 months." "Stay tuned for more announcements using XBRL by the US SEC."

Also impressed with David vun Kannon, Senior Standards Specialist, Office of Financial Research at the US Department of Treasury and his comments related to the use of XBRL for Legal Entity Identification (LEI) to support capital markets transparency.

"XBRL linked to LEI can provide greater financial stability by linking US SEC disclosed XBRL financial statement data with LEI." 

Excited about Bloomberg's use of US SEC XBRL tagged financial statement data as well as XBRL data from Japan, Korea, China, Brazil and Israel and the need to build out XBRL for other US SEC disclosed information.

Special thanks to XBRL USA for allowing me to attend this conference.

 http://zicklin.baruch.cuny.edu/centers/zcci/zcci-events/xbrl-us-investor-forum-improving-financial-analysis-through-structured-data 

 

  

 

 

 

 

 

 



#StockExchange #ExecutiveCompensation #XBRL #FEI #LEI #CapitalMarkets #PersonalFinance #Compliance #HotTopic #Accounting #CFAInstitute #GlassLewis #cfo #DATAAct #Proxy #SIFMA #InvestorDisclosure #Event #Corpgov #structureddata #USTreasury #Bloomberg #USSEC #Transparency #News
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