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SEC Open Data Loses House Battle – but is Winning War

For the third time in 18 months, the House of Representatives passed a multi-part financial services package bill with Rep. Robert Hurt’s (R-VA) anti-open data proposal included, and sent it to the Senate. But yesterday’s debates, votes, and White House statement sent a clear message to the Senate: restricting open data is controversial. If the Senate Banking Committee wants to craft a broadly popular financial services bill that will earn Democratic votes and President Obama’s signature, the committee should leave out Rep. Hurt’s open data exemption.

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Data Coalition commends bipartisan effort to block anti-open data bill in House of Representatives

Today the House of Representatives approved a financial services package bill that contained a setback for open data reporting at the Securities and Exchange Commission. Rep. Robert Hurt’s Small Company Disclosure Simplification Act, included within the Encouraging Employee Ownership Act of 2015 (H.R. 1675), would require the SEC to exempt most public companies from reporting their financial statements in the eXtensible Business Reporting Language (XBRL) format.

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Anti-Open Data Bill Set for House Passage, Again

The Coalition has long opposed Rep. Robert Hurt’s Small Company Disclosure Simplification Act (H.R. 1965), which would severely disrupt the SEC’s ability to collect open data financial statements from most public companies, and regress to only collecting the information as plain-text documents. H.R. 1965 is back on the House of Representatives’ agenda. It has been included in a package bill the House is scheduled for a vote this Wednesday.

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