Broadridge Financial Solutions, Inc. has contributed the first open-source format for interactive proxy statements to XBRL US, Inc. The architecture explicitly supports the reporting requirements of the US Securities and Exchange Commission (SEC) proxy statement form (DEF14A). The proxy statement taxonomies are intended to capture a broad range of basic facts contained in a proxy statement filing. In addition to the SEC forms disclosure requirements, a range of common industry practice concepts are also supported.
Broadridge has previously stated its intent to place the proxy statement taxonomies in the public domain to facilitate further development and to obtain industry and regulatory acceptance. Having contracted with the SEC to develop interactive data taxonomies and related materials, XBRL US, Inc. is the entity that could best accomplish this task.
Broadridge is committed to finding the best applications to support transparent and efficient corporate governance and shareholder communication activities and views interactive data as the next logical step in this process.
“We are excited and proud of our ability to contribute to the future of business reporting and SEC disclosure in this way, and we look forward to attracting industry participants to improve upon the proxy taxonomy foundation that we created,” says Robert Schifellite, president, investor communication solutions, Broadridge.
“Proxy statement data in XBRL format will give investors better and more timely insights into the corporate accountability of public companies,” says Campbell Pryde, chief standards officer, XBRL US, “Broadridges contribution and their ongoing involvement in taxonomy development will ensure the highest quality data.”
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