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November 4, 2016
Data Coalition News
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The latest:
  • XBRL and LEI Gain Another Advocate Within the SEC
  • Spotlight: Data Transparency - What Does the OPEN Government Data Act Mean for U.S. Citizens?
  • Coalition and Civil Society Groups: Dump the DUNS Number
  • Join our Team! We’re Seeking a Development Associate!

XBRL and LEI Gain Another Advocate Within the SEC

Rick Fleming, Investor Advocate of the Securities and Exchange Commission (SEC), addressed XBRL-US’s Investor Forum 2016 in New York on Thursday, October 24th. Fleming outlined how the SEC’s outdated “disclosure delivery methods have not kept pace with changes in technology.” Fleming said his agency should replace document-based corporate disclosures with standardized, open data, as the Data Coalition has long advocated.

The SEC has made some efforts to modernize the way it collects corporate financial filings. In June, the SEC began allowing public companies to file their financial statements in the inline XBRL (eXtensible Business Reporting Language) open data format. XBRL tagging has allowed the Division of Enforcement to “detect anomalous patterns in financial statements", said Fleming. This is good for regulatory oversight, good for market stability and good for investors.

Fleming outlined three wish list items to further modernize the SEC’s corporate disclosures:

  1. “[E]mbrace the Legal Entity Identifier with the goal of making public company disclosure to the SEC interoperable with disclosure to other reporting regimes, as recommended by the Data Coalition and XBRL US;”
  2. “Block-tagging of narrative text disclosures; and”
  3. “Detail-tagging within narrative text disclosures.”
Continue reading the Coalition's full press release here
Building on Rick Fleming's October 24th speech, SEC Commissioner Kara Stein delivered the keynote address at the Big Data in Finance Conference on Friday, October 28th. The Commissioner called for the SEC to expand its use of structured data and reiterated the benefits of embracing the Legal Entity Identifier (LEI). Commissioner Stein has previously called for her agency to adopt both these measures. 

Read Commission Stein's October 28th speech here. 

Spotlight: Data Transparency - What Does the OPEN Government Data Act Mean for U.S. Citizens?

Bryan Jones is the Director and Program Manager for Data Coalition member company Elder Research. Jones is a former federal government employee with over 31 years of experience successfully managing and leading programs and people. Bryan’s focus is to translate the value of analytics and develop an analytics business strategy for government agencies and commercial business operations.

The OPEN (Open, Public, Electronic and Necessary) Government Data Act, or S.2852, as stated in a Data Coalition press release “directs all federal agencies to publish their information as machine-readable data, using searchable formats.”  Essentially this means government data would be open, by default, for use or reuse by the public, the private sector, non-profits or other government agencies.  For those providing analytics consulting services to government agencies this data transparency is very good news but what is the reality for implementation if this act is signed into law?

Excitement over the possibility of open government data is tempered somewhat due to the pace at which governments traditionally move and language in the act allowing agencies to protect their data “for privacy, security, confidentiality, or regulatory reasons.”  While such protections are necessary there will no doubt be conflicting interpretations leading to possible data sharing barriers and reduced data transparency.

Read Bryan Jones' full article here

Coalition and Civil Society Groups: Dump the DUNS Number

Last Friday, October 28th, a group of twenty-five civil society and government reform groups led by Global Witness sent a letter to the House Oversight and Government Reform Committee requesting more transparency in the ownership of federal contractors. The Data Coalition joined as a co-signatory to the letter.

Data Coalition staff have engaged in joint meetings with the Treasury Department to discuss how the DATA Act’s requirement for moving away from proprietary identifiers could have the positive byproduct of giving federal agencies a richer picture of the entities from which they purchase goods and services. This letter directly asks Congress to consider the Legal Entity Identifier (LEI), or similar non-proprietary identifiers, as an alternative to the DUNS Number in federal contracting. Such a policy change, the letter argues, would give a better picture into the ownership structure and predecessor information of companies receiving taxpayer funds.

Read the full letter here

We’re Seeking a Development Associate!

The Data Coalition is seeking a full-time Development Associate to help build our campaign for open data! If that person might be you or someone you know, read on. We are the only trade association pursuing the publication of government information as standardized, open data. Through advocacy, outreach, and events, the Coalition supports policy reforms that require governments to transform their information. Interested candidates should submit a resume to info@datacoalition.org.

Read the full job description here.

UPCOMING EVENTS!

Standard Business Reporting Breakfast Panel, Wednesday, December 7th: The Data Coalition and PwC will host the final breakfast panel of the year. PwC partner Bill Hughes will lead a panel of experts who will explore the potential for the U.S federal government to embrace Standard Business Reporting as Australia and the Netherlands already have. Register here!

When: 7:30 am – 9:00 am, Wednesday, December 7, 2016 
Where: PwC, 1730 Pennsylvania Avenue NW, Washington, D.C, 20006

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Report: Open data's positives are still in their infancy
The Progress and Pitfalls of Government's Open Data Efforts
State of the Union of Open Data 2016: Despite Steady Gains, Challenges Remain

Data Coalition Members


Executive
Workiva
PwC
Research Data Group
RR Donnelley


Partner
Booz Allen Hamilton
DataTracks
data.world
OpenGov
MorganFranklin Consulting
Socrata
StreamLink Software


Regular
BackOffice Associates
Center for Organizational Excellence
CGI Federal
CohnReznick
Elder Research
Esri
Experian
Fujitsu
Global IDs
Grant Thornton
IBM
Information Builders
LexisNexis
Merrill Corporation
NewGen
PR Newswire
Tableau
Xcential


Startup
BCL Technologies
cBEYONData
FiscalNote
Gov-PATH Solutions
idaciti
OpenDataSoft
Vintun LLC
Zenius Corporation


Trade Association
Object Management Group 
XBRL-US

 

About Us

The Data Coalition advocates on behalf of the private sector and the public interest for the publication of government information as standardized, open data.
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