Ensuring Accuracy and "On Time" Filings while Controlling Costs and Managing Compliance Requirements
The Challenge
In today’s turbulent business environment, all mutual fund companies are facing the same key challenges regarding the SEC’s Interactive Data or “XBRL” mandate. Optional now, but mandatory beginning January 1, 2011, all mutual funds must provide the Commission with a new exhibit that includes the risk/return summary information in XBRL format.
The SEC’s goal is to make it easier for investors, analysts, etc. to effectively and efficiently analyze the information in the risk/return summary section but also to assist in the automation of regulatory filings and business processing information.
Specifically, your challenges include:
- Preparing for the risk/return summary requirement while using the most up-to-date XBRL taxonomy as part of a streamlined process
- Effectively navigating the compliance requirements and proposed rules associated with interactive data and the tagging of risk/return summary information
- Adhering to an ever-changing regulatory and compliance environment
Preparing your risk/return summary for filing in XBRL involves tagging, reviewing, validating, filing, and publishing, which adds complexity to your existing process. The right business partner will help you overcome these challenges but will also provide the operational efficiencies and cost control measures you need.
Our Solution
Merrill Corporation’s XBRL CompleteSM is an end-to-end service offering producing accurate and reliable data in XBRL format supported by dedicated XBRL experts, regulatory expertise, four decades of financial services experience, and a cost-effective and efficient process.
Merrill Corporation’s experts will help you:
- Prepare your XBRL through our controlled Tag-Validate-File-Publish process
- Understand the requirements of the ruling and XBRL itself as well as cost-effectively manage the entire process
- Stay compliant and ensure regulatory guidelines are met by following rigorous quality controls throughout the process
- Proactively meet the mutual fund industry’s evolving needs by anticipating changes in regulatory and marketplace demands
- Meet intensive deadlines using our XBRL as well as our EDGAR preparation and filing service
The Proof
Merrill is on the cutting-edge of XBRL initiatives. We are an active participant in XBRL US, a not-for-profit consortium of companies and agencies worldwide, working together to build, promote and support the XBRL language. Merrill is also an active participant with the Consortium of Filing Agents and Software Developers, which meets regularly with the SEC to discuss new EDGAR and XBRL developments.
XBRL CompleteSM offers the most cost-effective solution with the backing of dedicated XBRL experts with access to, and expertise in, our complete suite of integrated Compliance Solutions. Merrill offers a complete and comprehensive XBRL solution that meets all of the SEC’s XBRL requirements.
Contact us: 866-367-9110 | contactMS@merrillcorp.com
