Congressman Darrell Issa (R-CA) will be introducing the Financial Transparency Act of 2015 that will mandate standards like XBRL across the capital markets and possible link to the Global Legal Entity Initiative (LEI)
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Using the machine-readable, human-readable data format -- companies can create “one report” of information that can be shared across stakeholders – including regulators for more effective distribution of critical information driving investment in the capital markets. Congressman Issa issued the following press release about “The Financial Transparency Act” he and other Congressmen on both sides of the isle have introduced in the new Congress. From the article: “The Financial Transparency Act, reintroduced by Rep. Darrell Issa, R-Calif., this week, would eliminate document-based financial filings
We're pleased to announce that Treasury & OMB have selected XBRL late last week as the common data standard that will be used to exchange government financial information as described in this news article . On March 7, 2015 – We posted that in early May the US Treasury and the Office...
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...
GREAT NEWS TODAY... The US Securities and Exchange Commission has voted today to move forward in mandating the use of Inline XBRL for US public company financial statement disclosure. See below story blogged on December 28, 2016 in which we discussed the possibility of the US SEC taking...
Great article on Blockchain technology, cloud shared public ledgers and how it can be used for state, local and federal government to provide new services to the public. Premise: Blockchain technology can be applied using distributed public record technology that can be directed to a wide...
More than 2/3 of the world’s capital markets are using the IMA supported XBRL global structured data format for both financial and nonfinancial disclosures. More than 100 regulators in more than 70 countries have mandated the use of XBRL for financial and business reporting which includes...
Watch out United States EDGAR Online – the European Union is building a “next generation” -- “EDGAR-LIKE” corporate disclosure platform to be used by 28 EU member states for global investors that will be built upon BLOCKCHAIN and global financial and non-financial data access standards like...
Yesterday at a summit of central bank governors in Amsterdam -- the governor of the Bank of England warned that climate change could have a "catastrophic impact" on the global financial system. Speaking at the summit -- Mark Carney reiterated previous warnings that the global financial system...