Comments on: SEC’s Schapiro shows little interest in Cox’s pet projects http://blogs.reuters.com/summits/2009/04/28/secs-schapiro-shows-little-interest-in-coxs-pet-projects/ Exclusive outtakes from industry leaders Wed, 16 Nov 2016 08:14:55 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Susan M. Hinds, President & CEO Strategic Mangement Harmony, LLC http://blogs.reuters.com/summits/2009/04/28/secs-schapiro-shows-little-interest-in-coxs-pet-projects/comment-page-1/#comment-1051 Thu, 16 Jul 2009 21:30:30 +0000 http://blogs.reuters.com/summits/?p=2783#comment-1051 I applaud Ms. Sharpiro’s practical views that this is not the time to “mandate” technology on cash strapped businesses. As an author of the EBRC business plan that promotes XBRL, this was to be a “voluntary” program for those who see it as having a cost/benefit for their businesses. That was the intent from the beginning and is the best way to introduce any technology…this is not China with a mandatory “one-way” roadmap. Great Job SEC:)
Not to mention, that certain organizations, like the accounting profession, are dominating these conversations and forcing their “agenda with a profit” on the rest of us. While there is promise to XBRL, that is not the only technology solution and we like competition in USA. The IFRS should also be a voluntary program as many prefer GAAP over the watered down IFRS.

]]>
By: jim http://blogs.reuters.com/summits/2009/04/28/secs-schapiro-shows-little-interest-in-coxs-pet-projects/comment-page-1/#comment-787 Wed, 29 Apr 2009 23:27:49 +0000 http://blogs.reuters.com/summits/?p=2783#comment-787 Schapiro prepared to do doodley-squat to protect individual investors against hedgefunds like Golden Sacks.

Same old…

]]>
By: Thomas Becktold http://blogs.reuters.com/summits/2009/04/28/secs-schapiro-shows-little-interest-in-coxs-pet-projects/comment-page-1/#comment-785 Wed, 29 Apr 2009 23:02:48 +0000 http://blogs.reuters.com/summits/?p=2783#comment-785 With regard to SEC head Mary Schapiro’s “visceral reaction” to the idea that investors might have to go and look for the information rather than getting it through a broader distribution via services such as Business Wire here are some additional issues to consider that impact investors and reporters(fair disclosure-I’m employed by Business Wire):

Currently, financial wires such as Reuters, algorithmic trading systems, financial information services used by professional money managers, and information services used by individual investors, rely on news fed to them, simultaneously, by commercial newswires.

Services like Business Wire create a level playing field by breaking material news, simultaneously, to a wide range of audiences via multiple platforms and technologies. That way, nobody has to go on a fishing expedition to locate market-moving company news. “We always need the table—it helps us on speed, it helps us to be fair,” said Reuters editor Martin Howell.

Company websites, blogs and social media can play a new and important supplementary role but they shouldn’t be used as a substitute for broad, simultaneous disclosure. Press releases via Business Wire provide a document of record, directly from a company to all their shareholders regardless of where they get their news.

For nearly 50 years, Business Wire has been committed to using technology to advance transparency in the full, free and simultaneous delivery of material news in the service of public companies, media, investors, information services, web sites and other platforms.

Our blog post on the practice of omitting earnings data from distributed press releases (notice-and-access) is located at: http://businesswired.wordpress.com/2009/ 02/05/earnings-tables-needed-in-press-re leases-say-market-participants/

We can be reached at: http://www.businesswire.com/portal/site/ home/contact/

–Tom Becktold, Sr. Vice President, Business Wire

]]>
By: MC_Secular http://blogs.reuters.com/summits/2009/04/28/secs-schapiro-shows-little-interest-in-coxs-pet-projects/comment-page-1/#comment-779 Wed, 29 Apr 2009 15:27:37 +0000 http://blogs.reuters.com/summits/?p=2783#comment-779 Lame. Get with the program Schapiro.

]]>
By: W. David Stephenson http://blogs.reuters.com/summits/2009/04/28/secs-schapiro-shows-little-interest-in-coxs-pet-projects/comment-page-1/#comment-778 Wed, 29 Apr 2009 15:13:23 +0000 http://blogs.reuters.com/summits/?p=2783#comment-778 That is amazingly short-sighted! A comprehensive XBRL approach, such as the Dutch Taxonomy Project could cut companies’ reporting costs 25%, give companies an important new real-time data management tool to help them operate more efficiently, and — perhaps most important in the short run — help rebuild public confidence in both government regulation and corporate integrity. This is a serious threat to the Obama Administration’s transparency initiatives!
W. David Stephenson
author “Democratizing Data to transform government, business & daily life” (to be released later this year)

]]>