Sec. 412. Analysis by the SEC

211 words·~1 min read·/bill/115/hr/10/rh/section-412

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The Commission shall conduct an analysis of the costs and benefits to issuers described in section 411(b) of the requirements to use XBRL for financial statements and other periodic reporting required to be filed with the Commission under the securities laws. Such analysis shall include an assessment of— how such costs and benefits may differ from the costs and benefits identified by the Commission in the order relating to interactive data to improve financial reporting (dated January 30, 2009; 74 Fed. Reg. 6776) because of the size of such issuers; the effects on efficiency, competition, capital formation, and financing and on analyst coverage of such issuers (including any such effects resulting from use of XBRL by investors); the costs to such issuers of— submitting data to the Commission in XBRL; posting data on the website of the issuer in XBRL; software necessary to prepare, submit, or post data in XBRL; and any additional consulting services or filing agent services; the benefits to the Commission in terms of improved ability to monitor securities markets, assess the potential outcomes of regulatory alternatives, and enhance investor participation in corporate governance and promote capital formation; and the effectiveness of standards in the United States for interactive filing data relative to the standards of international counterparts.

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74 FR 6776

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Sec. 412

Analysis by the SEC

Fed. Reg.74 FR 6776

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