US: SEC News

The SEC has launched “Financial Explorer”, which, according to SEC Chairman Cox, will “help investors quickly and easily analyze financial results of public companies. Financial Explorer paints the picture of corporate financial performance with diagrams and charts, using financial information provided to the SEC as “interactive data” in eXtensible Business Reporting Language (XBRL)”. For further information click here.

SEC has voted to bring forward amendments to modernize foreign company disclosure requirements, including the elimination of paper submissions. Chairman Cox observed: “The proposed amendments would bring our foreign company disclosure requirements into the 21st Century by eliminating any requirement for paper, and by giving investors instant access to foreign company disclosure documents electronically, in English, on the Internet”. For further information, click here.

SEC Commissioner Kathleen Casey delivered the opening speech at the ALI-ABA Conference on "Corporate Governance: The Changing Environment" (Washington, D.C., February 21). Commissioner Casey spoke about those areas of corporate governance on which the SEC is focusing: internal controls, proxy rules and executive compensation. The speech is available here.