Mutual Fund XBRL Education Seminar
Friday, June 4, 2010
Securities and Exchange Commission staff conducted a public seminar to help mutual funds comply with new rules that require them to file data in the risk/return summary section of the prospectus using eXtensible Business Reporting Language (XBRL), which can provide investors with quicker access to the data they want in a format that is easily used, searched, and analyzed.
SEC staff discussed both the rule requirements and the XBRL taxonomy, which is the list of tags associated with the risk/return summary. The compliance date for open-end funds is Jan. 1, 2011.
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