The Securities and Exchange mission today voted to propose amendments intended to improve the quality and aessibility of data submitted by public panies and mutual funds using eXtensible Business Reporting Language (XBRL).

The proposals would require the use of Inline XBRL,which has the potential to benefit investors and other market participants while decreasing,over time,the st of preparing information for submission to the SEC.The remendations are part of the SEC’s disclosure modernization initiative.

“While XBRL technology has made disclosures easier to aess for investors,there are legitimate ncerns about the burdens smaller panies face when preparing their filings,”said SEC Acting Chairman Michael Piwowar.“Today,the SEC is asking ment on a way to streamline this process to ensure usability for the public while keeping pliance sts down.”

The SEC will seek public ment on the proposed rules for 60days.

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FACT SHEET 

SEC Open Meeting 

March 1,2017 

Highlights 

The proposed amendments would require the use of Inline XBRL format for the submission of operating pany financial statement information and mutual fund risk/return summaries.The proposal would also eliminate the requirement for filers to post XBRL data on their webs. 

Among additional potential benefits: 

•Inline XBRL allows filers to embed XBRL data directly into their filings instead of as attachments,rcing the likelihood of innsistencies.

•Inline XBRL would give the preparer full ntrol over the presentation of XBRL disclosures within the HTML filing.In addition,tools like the open source Inline XBRL Viewer on can be used to review the XBRL data more efficiently. 

•For mutual funds,the proposed amendments would facilitate efficiencies in the filing process by permitting the ncurrent submission of XBRL data files with certain post-effective amendment filings.The proposed amendments also would improve the timeliness of the availability of risk/return summaries in XBRL by eliminating the current 15business day filing period aorded to all filings ntaining risk/return summaries. 

•Under the proposals,requirements for operating pany financial statements would be phased in over a three-year period.Requirements for mutual funds risk/return summaries would be phased in over a two-year period. 

Background 

In 2009,the mission adopted rules requiring operating panies to provide financial statement information in registration statements and periodic and current reports in XBRL by submitting it to the mission in an Interactive Data File as an exhibit to these filings and posting it on their rporate webs,if any. 

In 2009,the mission also adopted rules requiring mutual funds to provide risk/return summaries in XBRL by submitting them to the mission in Interactive Data Files as exhibits and posting them on their webs,if any. 

There is a wide range of users of XBRL data,including investors,financial analysts,enomic research firms,data aggregators,academic researchers,filers,and mission staff.Machine-readable financial market data,including XBRL-formatted data,enhances the mission’s rulemaking and market monitoring activities by allowing staff to efficiently analyze large quantities of information. 

中文新闻：SEC建议利用iXBRL提交标记数据