27 Mar 2025
📊SEC's Proposal on Interactive Data Collection and Financial Reporting
Proposed Collection; Comment Request; Extension: Interactive Data
Summary
The SEC issues a notice regarding the proposed extension of the "Interactive Data" collection, soliciting comments on its necessity and utility. The initiative requires issuers to submit specified financial information in an interactive format using XBRL, aimed at facilitating data analysis for investors and automating filings for issuers.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The document discusses the SEC's solicitation for comments on the "Interactive Data" information collection related to financial disclosures, affecting compliance requirements for issuers. This is crucial for business owners to understand regulatory burdens and the necessity of submitting financial data in XBRL format.