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September 25, 2006

SEC Goes (More) XBRL and Interactive

The SEC has announced it is going to really drive data modernization of the Edgar database. The main upshots: XBRL is becoming a required filing format standard, which I like (but can understand filer unhappiness with); and the SEC is contracting to add better data analysis tools, which I'm less keen on (because I stubbornly maintain that the private sector would have done it anyway).

Anyway, this is a very big deal. The market-changing impact of XBRL adoption remains one of the most poorly told stories in financial markets.

[Thanks John]

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