SEC To Replace EDGAR With ‘IDEA’, by K.C. Jones, InformationWeek, Aug. 19, 2008.
The Securities and Exchange Commission (SEC) intends to supplement its aging EDGAR system and eventually replace it with a new one called Interactive Data Electronic Applications (Idea). It hopes to make Internet searches about publicly held companies and mutual funds simpler and more comprehensive and make data easier to downloaded to spreadsheets, entered in databases, and compared.
The SEC said the move would allow it to transition from collecting forms and documents to making the information freely available to investors. The new system should also provide current information in a format that is easy to access, collate, sift through, and compile into new reports.
Most SEC filings have used the Edgar format, which has limited investors and others who want to examine information about public companies to viewing one form at a time.
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