SEC Mandates XBRL for Filings Data

The requirement will be phased in over the next three years, starting with the largest public companies-defined as those with a market capitalization of more than $5 billion. The SEC estimates this comprises 500 US companies that will now have to report in XBRL for their first fiscal period ending on or after June 15, 2009.

The mandate will be extended during 2010 to companies with a market cap of $700 million or more, with all public companies scheduled to begin filing in XBRL the following year

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