Last week, XBRL US submitted a comment letter weighing in on the SEC proposal that fees and calculation tables in fee-based tables be prepared in Inline XBRL format. XBRL US supports the proposal and agrees with the Commission that structuring fee data will improve the efficiencies of the fee validation process for SEC staff, and will increase the confidence of registrants in the accuracy of their calculated filing fee.
Thanks goes to the work of an XBRL US member working group, including Toppan Merrill team members, Chase Bongirno and Jen Froberg, who helped identify and prepare detailed recommendations that will help the Commission as they work to finalize the rule.
In addition to questions about various aspects of the proposal, the SEC also asked if a pilot or test period would be advisable. We supported the idea of a pilot as a good means to identify and resolve issues that may arise during implementation.
Read the rule: https://www.sec.gov/rules/proposed/2019/33-10720.pdf