The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Cox Pitches ICI Attendees on the Wonders of XBRL Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, May 10, 2007

Cox Pitches ICI Attendees on the Wonders of XBRL

Reported by Sean Hanna, Editor in Chief

Christopher Cox nailed his sales pitch to the ICI's membership this morning. Cox, the Chairman of the SEC, put on his sales hat to plug the Commission's new XBRL standards for regulatory filings. During his prepared remarks, Cox avoided any reference to rule or fund oversight matters. He left the dais without taking questions from the gathered fund executives.

Like any good sales pro, Cox came prepared with an interactive power point presentation. Pretending to be a potential investor looking at fund expenses ratios, he browsed through the current SEC Web site, called up an N-1A -- a form that he jokingly noted every shareholder will know the name of -- and then cut and pasted the fund's expense information into a new spreadsheet. Shareholders now have to repeat that process for each fund, he noted.

Christopher Cox
Securities and Exchange Commission
Cox then unveiled an XBRL demo of the new SEC site, and showed how the same information can be called up with one click. He added that the final version of the site is will debut "very soon."

Cox attempted to seal the deal by telling attendees that their lives will be simpler if they adopt the new XBRL standards.

"We're working now to see to it that every mutual fund uses interactive data when reporting to the SEC," he said.

He also slammed the current filing system.

"You know how that works, it's not a lot of fun. Little wonder, then, that not too many people try this at home," he quipped.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use