SEC proposes to require XBRL data for 8,000 mutual funds

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26 May 2008

The US Securities and Exchange Commission has voted unanimously to propose that more than 8,000 mutual funds trading in the United States be required to label data in their public filings using XBRL computer tags.

This would let "investors get access to key information about fees, performance, and strategies through interactive data, which would permit comparison shopping among thousands of funds with all the ease of conducting an Internet search". Some mutual funds already have been filing interactive data on a voluntary basis. The SEC's rule proposal would require all mutual funds to provide data-tagged information beginning with registration statement filings that become effective after 31 December 2009. A mutual fund also would be required to post the interactive data on its website, if it maintains one.


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