Saying that “digital” is the future is not anything earthshattering. So, those of you monitoring the US regulatory realm as closely as we do, will have noted an interesting development by a player who has made a clear step to move forward with digital integration: the SEC.
On March 1, 2017, the SEC formally announced two changes to be implemented in unusually short timing - both in 2017, for everyone. All foreign companies listed on U.S. stock exchanges, or that publicly offer their securities in the United States must file reports with the SEC. International and domestic companies that file documents with SEC now will be affected by these global changes:
Proposed Measure (likely approval): Inline XBRL (eXtensible Business Reporting Language) will be the new format for all submissions of operating company financial statement information and mutual fund risk/return summaries submitted after December 15, 2017. Failure to file in XBRL may result in companies having trading of their stock halted. More in the press release.
Approved Measure: All foreign and domestic issuers, especially those that file Forms 40-F or 20-F, will now be required to create hyperlinked libraries of all exhibits within their filings. More in the press release.
A modernization initiative is in full swing, make sure your company stays ahead of the curve. We have the ability to quickly and securely help companies deal with both of these digital changes -- digital innovation is part of our DNA. Talk to us. We’re here to help.