Financial Services Industry
Industry: Email Alert RSS FeedPlans for interactive disclosure statements in motion; ICI proposes blueprint for computerizing risk/return summaries.(News)
Investment News, January, 2007
Byline: Sara Hansard WASHINGTON - The mutual fund industry moved a step closer to offering interactive disclosure statements when the Investment Company Institute proposed a blueprint for computerizing the risk-return summaries of prospectuses. On Jan. 4, the Washington-based ICI released for a 45-day public comment period the draft "taxonomy'' that its XBRL working group developed during the summer and fall of last year.
The taxonomy shows what information in the risk-return summary would be tagged using extensible business reporting language, the emerging standard for computerized interactive reporting of financial and business information. Users can click on tagged data to retrieve them electronically and compare them with data from other...
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