SOURCE: UBmatrix

May 14, 2008 10:09 ET

Background on SEC Interactive Data (XBRL) Program

REDWOOD CITY, CA--(Marketwire - May 14, 2008) - The U.S. Securities and Exchange Commission (SEC) will be holding an open meeting today (Wednesday, May 14th, 2008) to consider a rule proposal requiring mandatory filing of SEC reports in interactive data (XBRL) format for certain public company filers. The full text of the rule proposal will be made public by the SEC after its meeting on Wednesday.

Expert Available for Comment: Sunir Kapoor, a board member of XBRL US, an umbrella group dedicated to XBRL education and adoption, and the Chief Executive Officer of UBmatrix, a leading provider of XBRL solutions, will be available for comment on the SEC rule proposal -- and to provide background on XBRL and the SEC Interactive Data program. Contact Dan Cahill at (917) 617-0106 or dcahill@greentarget.net

In addition, UBmatrix has made available several information resources:

XBRL for CFOs: A web page and whitepaper explaining everything a CFO or senior financial executive needs to know about XBRL and the SEC XBRL program at: www.ubmatrix.com/company/for_cfos.htm

XBRL Primer and Library: A variety of whitepapers and information resources on XBRL, including an "XBRL Primer" and FAQ are available online at: http://www.ubmatrix.com/company/reference_library.htm

SEC Presentation from XBRL US Webinar: A webinar from XBRL US which provides an overview of US XBRL regulatory activities, featuring a presentation by the Director of the Office of Interactive Disclosure for the Securities and Exchange Commission and other leading experts in the field: http://www.ubmatrix.com/company/webinars.htm

UBmatrix "First Step" Program: Overview of UBmatrix's solution designed to provide public companies with the software and services needed to participate in the SEC XBRL Program: http://www.ubmatrix.com/news/pr_120407.htm

XBRL US Media Conference Call: To outline implications of the SEC's open meeting and expected rule proposal, XBRL US will host a media-only conference call at 12:30 pm EDT on Thursday, May 15, 2008. The conference call will feature representatives from the SEC, accounting, software and investment communities as well as public company preparers who will provide some prepared remarks and be available for questions regarding the SEC actions. For information on how to join the conference call, please e-mail Michelle Savage, michelle.savage@xbrl.us or Lynne Hasluck, lynne.hasluck@xbrl.us.

Contact Information

  • For further information, contact:

    Dan Cahill
    (415) 552-3999 Office
    (917) 617-0106 Mobile
    Email Contact