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Posts tagged as ‘XBRL


 

House Financial Services Committee Continues Four-Year Campaign to Eliminate Most Open Data on Corporate Finance


For over four years, the Biotechnology Innovation Organization and the leadership of the House Financial Services Committee have been trying to pass a bill that would prevent the U.S. Securities and Exchange Commission from collecting searchable financial data from most public companies. Fortunately, it is probably never going to become law. But why are the biotech industry and the Financial Services Committee leadership so fixated on the Small Company Disclosure Simplification Act?

 

Data Coalition Opposes Anti-Open Data Bill in House Financial Services Committee


US Capitol-HomeThe House Financial Services Committee will mark up the Small Company Disclosure Simplification Act, H.R. 5054. The legislation was first introduced in 2013 and the bill will exempt a majority of public companies from the obligation to file financial statements in a searchable and standardized data format with the U.S. Securities and Exchange Commission (SEC).

 

Florida Leads the Way on Budget Transparency with Municipal XBRL


A more efficient, 21st Century approach is to retain all the data in “machine-readable form” rather than converting it into and the back out of a print format. The primary technology that enables the transfer of financial data from statement filers to users is eXtensible Business Reporting Language (XBRL).

 

Financial Transparency Act Re-introduced


Twenty-eight Members of the House of Representatives, led by Rep. Darrell Issa (R-CA), have reintroduced the Financial Transparency Act (H.R. 1530). If enacted, the Financial Transparency Act would be the nation’s first RegTech law. The bill would modernize the U.S. financial regulatory reporting process from unstructured documents into fully searchable, standardized, and machine-readable data.