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Draft XBRL Taxonomy and Implementation Guide for Nationally Recognized Statistical Rating Organizations
The Securities and Exchange Commission adopted Rule 17g-7(b) of the Securities Exchange Act of 1934 (Exchange Act) relating to the disclosure requirements for credit rating histories of nationally recognized statistical rating organizations in August 2014. Rule 17g-7(b) will become effective on June 15, 2015 and will supersede the current disclosure requirements for credit rating histories under paragraphs (d)(2) and (d)(3) of Rule 17g-2 of the Exchange Act.
A draft Record of Credit Ratings taxonomy (R14) with respect to the credit rating history disclosures required by Rule 17g-7(b) and a draft of the corresponding Rating History Files Publication Guide have been published for public comment and are available at http://www.sec.gov/info/edgar/edgartaxonomies_d.shtml.
The public comment period will end on January 30, 2015. Please provide comments on this taxonomy and guidance at https://www.sec.gov/forms/contact_dera using "Draft ROCR Taxonomy" in the "General Subject Matter of Your Request" section no later than January 30, 2015.
Periodic Releases of the IFRS Taxonomy
Foreign private issuers that prepare their financial statements in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board are not required to submit to the Commission Interactive Data Files, as defined in Rule 11 of Regulation S-T, until the Commission specifies on its website a taxonomy for use by such foreign private issuers in preparing their Interactive Data Files. See The Center for Audit Quality, SEC No-Action Letter (Apr. 8, 2011) at http://www.sec.gov/divisions/corpfin/cf-noaction/2011/caq040811.htm.
The Commission staff is continuing to review taxonomies for use by foreign private issuers. The IFRS Foundation periodically publishes versions of the IFRS Taxonomy for public comment. The Commission staff encourages filers, investors, analysts, software service providers and other interested parties to participate in this public review to assist the IFRS Foundation in continuing to develop the IFRS Taxonomy. Information regarding the IFRS Taxonomy and links to versions of the taxonomy are available at http://www.ifrs.org/XBRL/Pages/XBRL.aspx. Comments on versions of the taxonomy should be submitted directly to the IFRS Foundation.