Data Coalition Recommends Structured Data to the SEC

The Data Coalition has recently released a report in which it recommends to the SEC that structured data be used for all of its filings. The Coalition points out that a system of disclosure has evolved under existing legislation and under a paper regime in which numerous documents are required to be filed by registrants. This is inefficient and involves much duplication. It points out that these documents are formatted with the presumption that they will be printed and read on paper, while most users read and analyze them in digital format.

This approach is consistent with the concept of standardized Business Reporting (SBR) with which governments can save large amounts of money by requiring filings using structured data rather than paper based forms.