SEC Moves Toward Adopting High-Tech Filing Rule

Law360, New York (May 22, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission proposed Wednesday that all mutual funds electronically tag data in their SEC filings, saying the technology would enable investors to shop among funds more efficiently by making it easier to compare such factors as fees and performance.

Under the proposal, mutual funds would label data in their public filings with extensible business reporting language, or XBRL – computer tags similar to the bar codes that identify products at stores or packages in the mail – and to post the interactive...
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