SEC adopts US GAAP Financial Reporting Taxonomy

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02 Mar 2011

Further to our story of 19 January 2011, the Financial Accounting Foundation (FAF) has announced the US Securities and Exchange Commission (SEC) has adopted the 2011 US GAAP Financial Reporting Taxonomy.

The taxonomy is to be used for creating and submitting eXtensible Business Reporting Language (XBRL) tagged interactive data files in compliance with SEC rules. The FAF is responsible for the ongoing maintenance of the taxonomy applicable to public issuers registered with the SEC.

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