[Federal Register Volume 71, Number 51 (Thursday, March 16, 2006)]
[Notices]
[Page 13640]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-3779]


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SECURITIES AND EXCHANGE COMMISSION


Roundtable Series on Giving Investors and Analysts Better 
Financial Data Via Internet

    Washington, DC, March 9, 2006--The Securities and Exchange 
Commission announced today a series of roundtables to be held 
throughout 2006 at its headquarters in Washington, DC, focused on 
speeding the implementation of new Internet tools that will help 
provide investors and analysts with better financial information about 
companies and funds.
    The roundtables will review the experiences from the first year of 
a pilot program to use so-called interactive data for company filings 
with the SEC. Interactive data permits Internet users to search for and 
use individual items of information from financial reports, such as net 
income, executive compensation, or mutual fund expenses. Today, even 
computer-based financial information is generally presented in the form 
of entire pages of data that can't easily be separated. Approximately a 
dozen companies participated in the voluntary program in its initial 
year.
    The roundtables will also use the lessons learned from the pilot 
program in order to develop new ways to get analysts and investors 
significantly better information. Topics will include what investors 
and analysts are looking for in the new world of interactive data; how 
to accelerate the use of new software that permits the dissemination of 
interactive financial data; and how to best design the SEC's 
requirements for company disclosures to take maximum advantage of the 
potential of interactive data.
    Representatives from investors, issuers, auditors, analysts, 
technology professionals, regulators, and others will be invited to the 
roundtable discussions.
    The first roundtable in the series will be held on Monday, June 12, 
from 10 a.m.-noon, and will focus on how best to serve the needs of 
analysts and investors with interactive data. Subsequent roundtable 
discussions will be held later in the summer and fall. ``It is now 
within our reach to get dramatically more useful information in the 
hands of investors,'' said SEC Chairman Christopher Cox. ``We look 
forward to these discussions on implementing interactive data 
initiatives that can benefit investors as quickly as possible, and we 
welcome the opportunity to learn from investors and other users of 
financial information how the SEC can improve our own disclosure 
program.''
    The Commission also announced that it is seeking written feedback 
from investors, registrants, auditors and others on their experiences 
with interactive data and XBRL The Commission welcomes feedback on any 
aspect of the use of interactive data. The information that is 
submitted will become part of the public record of the interactive data 
roundtables.
    Members of the public are encouraged to provide feedback throughout 
the year as the roundtable topics and dates are announced. Submissions 
to the Commission may be provided by any of the following methods:

Electronic Submissions

     Use the Commission's Internet submission form at http://www.sec.gov/news/press.shtml; or
     Send an e-mail to [email protected]. Please include 
File Number 4-515 on the subject line.

Paper Submissions

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

All submissions should refer to File Number 4-515. This file number 
should be included on the subject line if e-mail is used. To help 
process and review your submissions more efficiently, please use only 
one method. The Commission will post all submissions on the 
Commission's Internet Web site at (http://www.sec.gov/news/press/4-515.shtml). Please note that all submissions received will be posted 
without change; the SEC does not edit personal identifying information 
from submissions. You should submit only information that you wish to 
make available publicly.

Nancy M. Morris,
Secretary.
 [FR Doc. E6-3779 Filed 3-15-06; 8:45 am]
BILLING CODE 8010-01-P