SEC to Transform EDGAR

Yesterday the SEC announced that they are awarding a contact to modernize the EDGAR database to use "interactive data". The announcement is the SEC's first step toward requiring companies to file reports in XBRL- Extensible Busines Reporting Language. With XBRL investors will not only be able to view reports but also download and analyze the financial data without re-keying. To keep up-to-date on the SEC's Interactive Data inititative see the Spotlight section of their homepage. To use current SEC reports filed in XBRL use our EDGAR Online I-Metrix database.