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
Great news yesterday regarding the expanded use of XBRL across the capital markets by the Securities and Exchange Commission (US SEC). The US SEC Commission voted to propose rules to require public companies (+14,500) to disclose the relationship between executive compensation and the financial performance of a company to increase transparency and accountability
Several days ago the US SEC released its Final Rule relating to the use of Crowdfunding to support the SME marketplace create millions of new jobs
New US SEC rule announced last week will allow investors with modest wealth to invest in smaller, start-up companies through Crowdfunding. The new US SEC rule was mandated by Title III of the 2012 Jump-Start Our Business Start-Ups Act. It has taken this long for the US SEC to write a rule because it lacked the technology to supervise this new capital markets opportunity to tap into the smaller investor base composed of billions of dollars
Click here on the 268-page adopting release . From the US SEC Issued Press Release: "In a separate order issued today, the US SEC determined that the current reporting requirements of the European Union Accounting and Transparency Directives (as implemented in a European Union or European Economic Area member country), Canada’s Extractive Sector Transparency Measures Act, and the U.S
Earlier this week US SEC Commissioner Michael S
New US SEC Reg A+ to Help Smaller Companies Access Investment Capital via Crowdfunding Using Social Media, Big Data and Cloud Technologies On March 25, 2015 the US Securities and Exchange Commission announced that it has adopted rules to facilitate smaller companies' access to capital, as mandated by the JOBS Act approved by Congress and signed into law by the President on April 5, 2012
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According to the most recent posting by Broc Romanek of CorporateCounsel.net the US SEC is actively moving forward on public company disclosure of sustainability/ corporate social responsibility reporting – also know as “non-financial” – “integrated reporting” -- including disclosing such topics as board diversity
Interesting alarming report from the US GAO issued in January 2016 to Members of Congress on the need in the capital markets and more specifically -- public companies – to disclose in their reports and to the US SEC material risks related climate change so investors and the public can make better financial decisions
Great article today in the Wall Street Journal CFO Blog on the use of the open, freely available, global XBRL data standard by the US SEC for more transparent and accountability in the capital markets