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ARTICLE · 12 SEPTEMBER 2023

SEC Staff Issues Sample Comment Letter Regarding XBRL Disclosures

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On September 7, 2023, the Staff of the Division of Corporation Finance ("Division") of the U.S. Securities and Exchange Commission ("SEC")...

United StatesCorporate/Commercial Law
Anna T. Pinedo
Anna T. Pinedo
Marc x.w. Leong
Marc x.w. Leong
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On September 7, 2023, the Staff of the Division of Corporation Finance ("Division") of the U.S. Securities and Exchange Commission ("SEC") issued a sample comment letter ("Letter"), containing sample comments that the Division may issue to companies relating to the disclosure of financial and other information using the eXtensible Business Reporting Language ("XBRL") format. The SEC's rules require companies to use XBRL and Inline XBRL formats to present or "tag" certain financial and other information in their registration statements and periodic and current reports.

The Division referred to the Financial Data Transparency Act, which requires, among other things, that the SEC establish a program to improve the quality of the corporate financial data filed or furnished by issuers under the Securities Act of 1933 Act (the Securities Act) and the Securities Exchange Act of 1934 (the Exchange Act). The Staff of the Division stated that it has provided comments relating

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