The SEC issued its final rules requiring companies to provide financial statements and other financial data in interactive data formats using eXtensible Business Reporting Language (XBRL). XBRL is intended to improve the usefulness of financial information to investors and analysts by making the information more accessible, inexpensive, and easier to use. The final rules:

  • provide a phase-in schedule for compliance by public reporting companies with the XBRL tagging requirements;
  • identify the types of information for which a company must provide XBRL interactive data;
  • discuss the Web site posting requirements; and
  • set forth the application of federal securities law obligations to XBRL interactive data.

To view a summary of the final XBRL rules, click here.

The final rules will become effective on April 13, 2009. Ballard Spahr can provide more information on the impact of the SEC's new XBRL rules. For more information on these rules or other securities matters, please contact Justin P. Klein at 215.864.8606 or kleinj@ballardspahr.com, Mary J. Mullany at 215.864.8631 or mullany@ballardspahr.com, or Peter Jaslow at 215.864.8737 or jaslowp@ballardspahr.com.


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