Tuesday, August 21, 2007
Chair Cox, as we all know, is an enthusiastic advocate for interactive data (XBRL). Today he announced that several mutual funds have voluntarily submitted risk/return summary information from their prospectuses using interactive data, which the SEC authorized in June. According to Chair Cox, "When most mutual funds provide their risk/return summary information using dynamic data that's searchable and comparable on the Web, investors will be able to comparison shop among thousands of funds at the click of a mouse. This is a potentially rich new source of investing information for retail investors who need it most." "We commend the mutual funds that have demonstrated their commitment to investors by leading the way to interactive data," Chairman Cox added.