Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Investor Groups Press SEC to Require Electronic Letter Tagging

Sept. 2, 2022, 7:45 PM

Require special, searchable electronic tags in the correspondence Wall Street’s top regulator sends to companies when it has questions about their financial statements, two prominent investor advocacy groups have urged the US Securities and Exchange Commission.

Public companies tag their financial filings with what’s called eXtensible Business Reporting Language, or XBRL, a machine-readable language designed to enable efficient searches of multiple companies across industries. But the comment letters the SEC routinely sends to companies get uploaded to the SEC’s website in a clunky PDF format that requires manual analysis, the Council of Institutional Investors and the CFA Institute wrote ...