Posts tagged as ‘Financial Transparency Act


Fintech Leaders: Time to Modernize Financial Reporting

The Data Coalition and seven other financial and technology organizations today sent a letter to the Financial Services Committee of the U.S. House of Representatives requesting that the committee convene a hearing on the need for regulatory agencies to modernize the way they collect information from public companies, banks, markets, and financial firms.


Dutch Government Envisions “Business Reporting in Zero Clicks”

Why does the Data Transparency Coalition support the adoption of consistent data formats, such as XBRL, throughout regulatory reporting? If regulatory agencies standardized the information they collect, software could automate reporting, replacing layers of lawyers with lines of code - and the cost of compliance would drop. This is already happening in the Netherlands. Here's how.


Replacing Financial Reports with Data Could Save Billions

Washington, D.C. - Financial expert Allan Mendelowitz today estimated that if U.S. financial regulatory agencies adopted consistent data formats for the information they collect, instead of using today’s document-based reports, a typical large investment firm could save "20 to 30 percent of operating expenses, or $200 to $300 million annually,” with similar savings across the whole financial industry.


Fixing the SEC’s Disclosure System

The SEC has invited government, industry, and the public to submit comments on how the agency can improve the effectiveness of its corporate disclosure system. Our Coalition submitted a sixteen-page formal comment letter on October 29, 2015. Our prescription to fix the SEC’s disclosure system can be summarized in two words: structured data.


In Case You Missed It: Top 5 Takeaways from DT2015

Open data experts from across the country convened in Washington, DC last week for Data Transparency 2015. The program, featuring more than 50 speakers, focused on the need for standardization and publication of government data. If Pope Francis-induced traffic kept you from trekking downtown for DT2015, don’t worry. We’ve got you covered with the top 5 takeaways.