Wednesday, November 25. 2020
In addition, this year’s program showcased practical, real world examples of how XBRL data can be used in the investment process. After the conference, attendees were also invited to deep-dive training webinars on tools to access free, timely, granular XBRL data.
The following highlights portions of the forum’s two-day agenda:
|Welcome and Introductions|
Mr. Rosenberg, Mr. Pryde, and Mr. Linder welcomed attendees to the forum and briefly discussed the importance of XBRL and structured data during these difficult 2020 fiscal year. XBRL is gaining additional regulator support, such as adoption by the Federal Energy Regulatory Commission (FERC). In addition, the speakers discussed how the SEC’s support of XBRL has strengthened the standard.
|Keynote Speaker: Allison Herren Lee, Commissioner from the Securities and Exchange Commission||Commissioner Lee reviewed the history and benefits of the SEC’s stepwise adoption of XBRL and Inline XBRL in its EDGAR System. Structured data has bettered market functioning across many public consumers, including investors, academics, and financial analysts. Commissioner Lee highlighted three areas of focus during her speech: 1) expanding the use of XBRL outside the financial statements, 2) continued emphasis on data accuracy and integrity in XBRL, and 3) the benefits of open and freely available financial identifiers.|
|Financial Identifiers for Investors, Business & Regulators|
The speakers addressed the value of the Legal Entity Identifier (LEI), as well as securities identifiers, the status of adoption, and why identifiers for entities and securities are important during market crises.
|Standards to Manage Investment Risk|
This session explored the significant effects COVID 19 has had on business and investors, focusing on what companies are doing to communicate to investors and how stakeholders are preparing for future risks. The speakers also explored how structured data eased the impact of financial uncertainty across stakeholders.
|APIs, Templates & Other Free Ways to Access Structured Data|
During this session, Mr. Pryde provided an overview of freely available research tools that can be used to access structured data worldwide.
|Welcome and Introductions|
Mr. Rosenberg and Mr. Pryde welcomed attendees back to the second day of the Investor Forum, reviewing the previous day’s sessions and providing an overview of this day’s discussions.
|Keynote: Wes Bricker, Vice Chair – US and Mexico Assurance Leader, PwC US, and Chair, XBRL International Board||Mr. Bricker discussed the role of data in investment markets and how to improve the use and presentation of that data. He covered three main topics about the use of data and XBRL: 1) trends and effects of XBRL use, 2) obstacles in producing better XBRL reports, and 3) ways in which stakeholders can work together to improve the use of XBRL.|
|XBRL Use Reaching The Critical Tipping Point|
This session focused on lessons learned and case studies that demonstrate how XBRL is revolutionizing data use for research analysts in the investment community and at the SEC.
|What Investors & Regulators Need from Issuers in Uncertain Times|
This final session explored lessons learned from the Great Recession of 2008 and the current pandemic concerning the kinds of data that are of most value to investors. In addition, the discussion explored the roles of standard setters and regulators in managing crises, and how issuers should adapt their disclosure practices to meet the new demands. Finally, the speakers addressed the political and economic impact of congressional actions related to the crisis.