Document ID: SEC-2008-0809-0001
Agency: sec
Document Type: Notice
Title: International Roundtable on Interactive Data for Public Financial Reporting
Posted Date: 2008-06-11T04:00Z

[Federal Register: June 11, 2008 (Volume 73, Number 113)]
[Notices]               
[Page 33120]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr11jn08-102]                         

[[Page 33120]]

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SECURITIES AND EXCHANGE COMMISSION

[Release Nos. 33-8927, 34-57929; File No. 4-559]

 
International Roundtable on Interactive Data for Public Financial 
Reporting

AGENCY: Securities and Exchange Commission.

ACTION: Notice of roundtable meeting; request for comment.

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SUMMARY: On Tuesday, June 10, 2008, the Securities and Exchange 
Commission will hold a roundtable discussion on the experience in 
countries that have already adopted interactive data; the views of 
countries currently considering adopting interactive data; and the 
perspectives from analysts and users of financial information about how 
best to take advantage of the capabilities of interactive data. The 
event begins with remarks by SEC Chairman Christopher Cox on the use of 
interactive data by public companies and mutual funds to improve 
disclosure for individual investors. Following Chairman Cox's remarks, 
a panel discussion will consider the use of interactive data for public 
financial reporting. Panelists will include representatives from 
foreign securities regulators that already require interactive-data 
reporting as well as representatives from foreign securities regulators 
that are considering adopting a form of interactive-data disclosure. In 
addition, the panel will feature users of such disclosure and solicit 
their views on the use of interactive data for public financial 
reporting. The panel will be moderated by Chicago Sun-Times personal 
finance columnist Terry Savage.
    The roundtable will take place at the Commission's headquarters at 
100 F Street, NE., Auditorium, Room L-002, Washington, DC, from 9:30 
a.m. to 12 p.m. The public is invited to observe the roundtable 
discussions. Seating is available on a first-come, first-serve basis. 
The roundtable discussions also will be available via webcast on the 
Commission's Web site at http://www.sec.gov. The Roundtable Agenda and 
other materials related to the Roundtable, including written statements 
submitted by participants for public distribution, will be accessible 
at http://www.sec.gov/spotlight/xbrl/xbrl-meetings.shtml.

DATES: Comments should be received on or before August 1, 2008.

ADDRESSES: Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/proposed.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number
     S7-11-08 on the subject line.

Paper Comments

     Send paper comments in triplicate to Secretary, Securities 
and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.

All submissions should refer to File Number S7-11-08. This file number 
should be included on the subject line if e-mail is used. To help us 
process and review your comments more efficiently, please use only one 
method. The Commission will post all comments on the Commission's 
Internet Web site (http://www.sec.gov/rules/proposed.shtml). Comments 
are also available for public inspection and copying in the 
Commission's Public Reference Room, 100 F Street, NE., Washington, DC 
20549, on official business days between the hours of 10 a.m. and 3 
p.m. All comments received will be posted without change; we do not 
edit personal identifying information from submissions. You should 
submit only information that you wish to make available publicly.

FOR FURTHER INFORMATION CONTACT: J. Troy Beatty, Senior Counsel, Office 
of International Affairs at (202) 551-6681.

SUPPLEMENTARY INFORMATION: The Roundtable follows the issuance on May 
30, 2008 of a proposed rule on Interactive Data to Improve Financial 
Reporting. The proposed rule may be accessed on the Commission's Web 
site (http://www.sec.gov/rules/proposed/2008/33-8924.pdf). The 
Commission welcomes feedback regarding the proposed rule and any of the 
topics to be addressed at the Roundtable, including those raised in the 
questions below.

Questions for Panelists

     How did your interactive data program originate? Was it 
driven by investors, the regulator, or some other organization? What is 
the current status of your interactive data program?
     What is the scope of interactive filings required in your 
jurisdiction? If none, what filings are currently being considered that 
might be subject to an interactive data reporting requirement?
     What levels of detail of interactive data are you 
considering or have been the most effective in implementing? What 
issues arose in assessing the level of detail to be tagged in required 
filings? In what manner were these issues resolved? Were the primary 
considerations in addressing these issues based on technological or 
regulatory developments?
     How did issuers in your jurisdiction respond, or how do 
you anticipate they will respond, to the requirement to provide reports 
using interactive data for financial reporting? Does your response 
differ depending on the size of the issuer or the level of detail 
required to be submitted?
     Did the use of interactive data in your jurisdiction 
impact what or how issuers report financial information? Does 
interactive data filing pose a burden to filers?
     What factors have most impacted the timing and ability of 
issuers to move to the use of interactive data for financial reporting 
in your jurisdiction?
     Do you find, or do you anticipate, that issuer filings in 
interactive data in your jurisdiction benefit, or will benefit, the 
investor and the larger investment community? What have been your 
experiences to date in realizing these benefits? In what ways are 
investors assessing and using interactive data? Are any alternatives 
for easier access for investors being considered to increase usage of 
the data?
     What regulatory filings would benefit investors by being 
subject to an interactive data filing requirement? Are there portions 
of existing filings that would benefit investors by being subject to an 
interactive data filing requirement?
     In your experience, what ``works'' in terms of designing 
and implementing interactive data regulatory requirements?
     Should interactive data filing tags be interoperable 
across national markets? If so, what efforts could be made to make data 
filing tags interoperable? Should regulatory authorities collaborate on 
or encourage this?

    By the Commission.

    June 5, 2008.
Florence E. Harmon,
Acting Secretary.
 [FR Doc. E8-13053 Filed 6-10-08; 8:45 am]

BILLING CODE 8010-01-P