ESG: Regulations Summary

The Securities and Exchange Commission (SEC) Commissioner Hester Peirce gave thoughts on executing the Financial Data Transparency Act (FDTA) provisions, which are included in the James M. Inhofe National Defence Authorization Act. She specifically addressed the law's structured data mandate, which requires data to be divided into standardised pieces that are identifiable/accessible by both humans and computers, and emphasised that a strategic approach to structured data must satisfy the needs of investors as well as market participants. The Commissioner also stated that incorporating Inline XBRL may reduce long-term compliance costs and data tags may result in machine-readable standards, which will boost business efficiency.