On March 1, the SEC proposed amendments to improve the quality and accessibility of data submitted by public companies and mutual funds using eXtensible Business Reporting Language ("XBRL"). The acting chairman noted that "while XBRL technology has made disclosures easier to access for investors, there are legitimate concerns about the burdens smaller companies face when preparing their filings," and the Commission is seeking "a way to streamline this process to ensure usability for the public while keeping compliance costs down."
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