Press Release: Mutual Fund Investors Could Get Access to "Comparison Shopping" Information; 2008-94; May 21, 2008

The SEC recently announced that the use of XBRL for submitting their filings would be required for Mutual Funds. According to Chairman Cox, whose announcement is included in video form in the following URL, which also has details of the press release, this will enable instant comparison of the mutual finds by investors and other interested parties. The announcement represents another significant advance forward for the use of XBRL. Press Release: Mutual Fund Investors Could Get Access to "Comparison Shopping" Information; 2008-94; May 21, 2008

XBRL US recently issued a document supporting and explaining the implications of the proposed new rules of the SEC requiring certain companies to file using XBRL. The document can be found at: http://xbrl.us/documents/rulingimpact.pdf

Press Release: SEC Proposes New Way for Investors to Get Financial Information on Companies; 2008-85; May 14, 2008

The recent decision of the SEC to mandate XBRL for public company filings can be found at the following site. Ultimately, Canada will have to follow the lead. Press Release: SEC Proposes New Way for Investors to Get Financial Information on Companies; 2008-85; May 14, 2008