SEC Staff to Hold Seminar to Help Mutual Funds Comply With XBRL Reporting Rules
FOR IMMEDIATE RELEASE
Washington, D.C., May 5, 2010 — Securities and Exchange Commission staff will conduct a public seminar next month 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.
At the seminar on June 4 beginning at 10 a.m., SEC staff will discuss 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.
To ensure that the seminar is responsive to the needs of mutual funds, the SEC staff is seeking suggested questions and topics to be discussed. Interested parties should e-mail their questions to Ask-OID@sec.gov and include "Mutual Fund Education Seminar" in the subject line.
The seminar will be held in the auditorium at the SEC's headquarters (100 F Street N.E. in Washington D.C.) and is scheduled to end at 12:30 p.m. ET. The event will be webcast live on the SEC website and also will be archived for later viewing.
Seating for the seminar will be on a first-come, first-served basis. Reasonable accommodations for persons with disabilities attending this event in person can be arranged by submitting a request to DisabilityProgramOfficer@SEC.gov three business days prior to the event. Captioning will be provided on the SEC webcast.
For additional information about the seminar, contact Ask-OID@sec.gov or (202) 551-4144.
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