Friday, November 07, 2008

SEC completes taxonomies for XBRL

Investment News

The SEC is encouraging users and creators of investment company information to review the taxonomies (see the link below).

Any comments received by Nov. 24 might be included in the final taxonomies that are to be used in mutual fund filings, starting in 2009.

Visit the SEC website to read the rule proposal on mutual fund risk-return summaries. To review and comment on the taxonomies, visit XBRL US. Visit the story “Advisers may benefit from XBRL shift” for more on how the standards will ultimately help advisers.

If you have an opinion about taxonomies for XBRL, the time to express it would be before November 24.

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