Given the level of criticism for what the SEC failed to do under Chairman Christopher Cox, he may never get credit for what he did do, which paves the way for unprecedented transparency in business information. Mary Shapiro inherits the new infrastructure and people to support her mandate for change. Read the rest of this entry »
If CEOs of companies seeking federal assistance don’t like the idea of a half-million dollar pay cap, they can’t expect sympathy from the new SEC Chairman Mary Shapiro. At $162,900, her salary is probably the largest pay cut of any new administration appointments. Read the rest of this entry »
Facebook has over 500 investor groups that include tens of thousands of members – and the SEC wants to make friends. The SEC’s Office of Investor Education and Advocacy will appear on Facebook by year’s end, according to director Kristin Kaepplein, who has been exploring social media applications as a way for the SEC to improve communications with the investing public. Read the rest of this entry »
The SEC is replacing its decades-old EDGAR system for collecting and distributing financial data with an entirely new IDEA (Interactive Data Electronic Applications) system that takes advantage of 21st century internet technologies and will change the way investors get and use business information. So why is EDGAR Online excited about the SEC’s giving away free XBRL data? Read the rest of this entry »
On September 18, 2008 the Securities & Exchange Commission took temporary emergency action to prohibit short selling in financial companies to protect the integrity and quality of the securities market and strengthen investor confidence. Read the rest of this entry »
ValueRich, which covers the world of small cap, has just launched its first completely digital edition. The free magazine is designed to be viewed online, searched, shared, and customized—even on a small hand held screen. Read the rest of this entry »
We at EDGAR Online have a lot of sympathy for The Boy Who Cried Wolf, and great compassion for Chicken Little. To everyone numbed by countless stories of the “impending adoption of XBRL for financial reporting”, and to those afraid of XBRL, we would like to point out that there really was a wolf and the sky did not fall. “2008 will be a watershed year for XBRL,” says SEC Chairman Christopher Cox. Look for the top 500 to file their 2008 annual reports in XBRL. Read the rest of this entry »
Nearly two-thirds of American investors own securities of non-U.S. companies. As international trade has exploded over the past five years, the job of protecting U.S. investors has become far more complicated. “Not only is cross-border business and investment activity at an all-time high, so is the risk of a securities fraud that can involve a half-dozen or more countries,” says U.S. Securities and Exchange Commission (SEC) Christopher Cox. Read the rest of this entry »
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