XBRL helps bring transparency to Mutual Funds

This week, the U.S. Securities and Exchange Commission (SEC) began the process of requiring that corporate financial filings move into the Internet Age.

In summary, the SEC is mandating that the 500 largest public companies within its purview begin to file this year’s financial reports using the interactive data tagging language known as XBRL (eXtensible Business Reporting Language). By the end of 2011, all U.S. public companies will have to file financial information in this format for use by investors.

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