The Securities and Exchange Commission announced today panelists participating in the March 19 SEC roundtable on the use of interactive data by public companies and mutual funds to improve disclosure for individual investors. The Commission also announced that, following the panel discussion, Richard A. Bennett, CEO of The Corporate Library, will discuss the role that interactive data will play in supporting good governance at public companies.
The roundtable will begin at 10:00 a.m. with brief remarks by Chairman Cox, followed by an opening address by John J. Brennan, Chairman and CEO of the Vanguard Group. Mr. Brennan is expected to discuss how interactive data will allow investors to easily gather and compare mutual fund risk and return information that might otherwise be buried within disclosure documents.
Following Mr. Brennan's remarks, John W. White, Director of the Commission's Division of Corporation Finance, will discuss the use of interactive data to create better disclosure documents.
The roundtable will also feature a panel discussion on the benefits, including potential cost savings, of preparing financial reports using interactive data written in a computer language called XBRL. Panelists will include executives at public companies currently providing investors with interactive data on a test basis as part of the SEC's voluntary filing program. The panel will be moderated by Chicago Sun-Times personal finance columnist Terry Savage and feature the following panelists:
Rob Blake, Vice President, Domain and Taxonomies, XBRL US, Inc.
James Cinquegrana, IT Team Leader, General Electric Company
Elmer H. Huh, Senior Vice President, Enterprise Valuation Group, Fixed Income Department, Lehman Brothers Inc.
Thomas D. Jacob, Financial Manager, External Reporting, 3M Company
K. R. Kent, Vice Chairman and Chief Financial Officer, Ford Motor Credit Company
Clare O'Leary, Director of Special Projects, Pfizer Inc.
Patsy J. Ramsey, Director of External Reporting, The Dow Chemical Company
Nicholas M. Rolli, Vice President, Investor Relations and Financial Communications, Altria Corporate Services, Inc.
Lawrence J. Salva, Senior Vice President, Chief Accounting Officer and Controller, Comcast Corporation
Andrea Stegall, Vice President - Corporate Governance Compliance, South Financial Group, Inc.
Harold I. Zeidman, Partner, Department of Professional Practice - Audit and Risk, KPMG LLP
The roundtable will be held in the Auditorium at the Commission's headquarters at 100 F Street, N.E., Washington, D.C., from 10:00 a.m. to noon. The roundtable will be open to the public with seating on a first-come, first-served basis. Doors will open at 9:30 a.m. Visitors will be subject to security checks. Materials related to the roundtable, including the day's agenda, are accessible at http://www.sec.gov/spotlight/xbrl.htm. Real time and archived audio and video webcasts will be accessible at http://www.sec.gov.
The Commission welcomes feedback on any aspect of the use of interactive data. The information that is submitted will become part of the public record of the roundtable. Submissions to the Commission may be provided by any of the following methods:
Electronic submissions:
Use the Commission's Internet submission form at www.sec.gov/news/press.shtml; or
Send an e-mail to rule-comments@sec.gov. Please include File Number 4-515 on the subject line.
Paper submissions:
Send paper submissions in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, N.E., Washington, D.C. 20549-1090.
All submissions should refer to File Number 4-515. This file number should be included on the subject line if e-mail is used. To help process and review your submissions more efficiently, please use only one method. The Commission will post all submissions on the Commission's Internet Web site at http://www.sec.gov/news/press/4-515.shtml.
Please note that all submissions received will be posted without change; the SEC does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly.
