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Rating:SEC Sets a Date for XBRL Not Rated 2.0 Email Routing List Email & Route  Print Print
Wednesday, May 21, 2008

SEC Sets a Date for XBRL

by: Erin Kello

Now that fund companies know that XBRL has a permanent place in their future, the SEC has proposed the exact timing of said future. Reuters reports that, under the time schedule proposed by the SEC, mutual fund companies would have to start filing data in XBRL by December 31, 2009. Commissioner Kathleen Casey did express doubts about the costs of compliance, saying, "I do have concerns about our abilities to fully and accurately assess the costs." She also made the observation that it was mainly larger fund companies that participated in the trial period.  

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