SEC to Allow In-Line Structured Data in Filings

Companies are now allowed to file financial statements with the SEC in a format that puts structured data in line with the HTML in the rest of the filing, the agency said.

Allowing companies to use “Inline XBRL,” which embeds structured data in the filing rather than requiring an attachment, will lead to lower filing costs and better quality data, the Securities and Exchange Commission said June 13. XBRL is an organized format for disclosing commonly used information in financial reports using machine-readable tags.

Under the SEC’s order, companies may use the format for filings through March 2020, but the ...