Wow. Who knew that the Securities and Exchange Commission (SEC) had a seriously geeky side? It’s no secret that the SEC and its documentation constitute an endless well of legal gobbledygook that will cure insomnia for many, instill zombie-like behavior in others, and force some individuals into an existential crisis. It is news, though, that… Read More >>
GLEIF Debuts Support for Machine-Readable LEIs
The Global Legal Entity Identifier Foundation (GLEIF) is clearing a new path for LEIs by integrating them with the eXtensible Business Reporting Language (XBRL), which facilitates the embedding of LEIs into digital, machine-readable financial documents. Integrating the LEI into digital business reports is intended to improve entity verification and ease online data aggregation, according to… Read More >>
SEC Wants to Make Inline XBRL Mandatory
The SEC, as part of what it calls its “disclosure modernization initiative,” is proposing amendments to improve the quality of data submitted by public companies and mutual funds using the eXtensible Business Reporting Language (XBRL). XBRL is a format that “allows filers to embed XBRL data directly into a HyperText Markup Language (HTML) document,” the… Read More >>
Robotics Comes to Due Diligence Reporting
Opus Signs Distribution Deal with OutsideIQ Opus, a regulatory software as a service (SaaS) vendor, announced that its Alacra, know your customer (KYC), reference data management and onboarding platform, will have access to automated due diligence reports for compliance via a distribution partnership with OutsideIQ, an artificial intelligence software provider. The agreement will make OutsideIQ’s… Read More >>
The ADR Project’s Big Spinoff
A successful pilot project to automate corporate actions processing for American Depositary Receipts has inspired XBRL International’s Standards Board (XSB) to think seriously about a global corporate actions taxonomy (dictionary) for a digital language — the eXtensible Business Reporting Language (XBRL) — that could bring a new order to the reporting of corporate actions data…. Read More >>
ADR Corporate Action Processing Grows Up
Michael Silverence is hoping that the days of using PDFs to spread the word in the U.S. and globally about the corporate actions impacting American Depositary Receipts (ADRs) are numbered. The BNY Mellon vice president, who oversees global product management, particularly innovation and technology, has been heavily involved in a project to automate corporate actions… Read More >>
Lombard Risk Offers Free XBRL Checker
Lombard Risk Management, a provider of regulatory reporting, compliance and collateral management solutions for the financial services industry, is now offering firms a free online facility to help resolve XBRL (or, eXtensible Business Reporting Language) validation errors encountered when submitting European Banking Authority regulatory reports to the Financial Conduct Authority (FCA) or to the Confederation… Read More >>
The Promise of Corporate Actions Contradictions
At one point during FTF’s CAPCon New York conference yesterday, a panelist noted that many of the issues being raised have not substantially changed over the past 20 years. While I concede the point, my perception is that corporate actions processing has become a mix of extreme contradictions that are harbingers of real changes to… Read More >>
Q&A: Will Corporate Actions Ever Embrace XBRL?
(Editor’s note: EDGAR Online has been doing everything it can to spread the word about XBRL-based filing of corporate actions, says Gregory A. Carter, the chief technology officer (CTO) for EDGAR Online. For instance, corporates could produce information in XBRL from “common tools like documents, spreadsheets and HTML,” Carter says.Another way is via cloud computing,… Read More >>
Tech Spotlight: A Computer Language Automates Human Processes
(Editor’s note: FTF News is launching today a new area of coverage as we spotlight each month a key information technology (IT) trend that is proving to be crucial to the successful operation of middle and back office processes. For January, we focus on the eXtensible Business Reporting Language, also known as XBRL.) The open… Read More >>
