Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week.
On April 8, 2020, the Securities and Exchange Commission (the SEC) adopted rule amendments to require business development companies (BDCs) and closed-end funds registered under the Investment Company Act (Registered CEFs, and together with BDCs, the Affected Funds) comply with certain structured data and Inline XBRL requirements.
The scope of application of XBRL in regtech is ever expanding.
Staff in the Commission’s Division of Economic and Risk Analysis has observed that some filers are not appropriately tagging disclosures about their finance lease liability, undiscounted future lease payments, and the excess amount of the undiscounted future lease payments over the finance lease liability (i.e., imputed interest).
The US SEC continues to offer detailed guidance on how to tag data – which is necessary to make the information as useful and usable as can be.
Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.
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