About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

SEC Publishes Upgraded XBRL Taxonomy for Mutual Funds Risk/Return Reporting

Subscribe to our newsletter
As part of its work to support the reporting of risk/return summary information in XBRL by mutual funds in the US, the Securities and Exchange Commission (SEC) has finally completed a series of required updates to its technology infrastructure this week. Mutual funds can now create and fully test their XBRL documents in preparation for the 1 January 2011 compliance date.

To this end, the SEC has upgraded three specific technology infrastructure items: the risk/return summary taxonomy, its previewer/viewer and an XBRL validator. The 2010 risk/return summary taxonomy has been updated from its 2008 release primarily with technical changes to enhance the rendering of XBRL-tagged documents. The 2010 taxonomy is accompanied by sample tagged documents, an architecture guide, and a rendering guide. The SEC’s previewer/viewer has been updated to support this new taxonomy and accordingly, mutual funds can now preview how their risk/return submissions will appear.

Lastly, the Edgar system has been updated so that the XBRL validator will now test the risk/return summary XBRL exhibits to ensure compliance with the requirements of the Edgar Filer Manual Chapter 6.

The SEC is now asking mutual funds, filing agents and software vendors to begin the process of tagging their risk/return summary information, submitting test filings to Edgar to validate their documents, and previewing the documents in the previewer to help prepare for the compliance date.

The regulator has also recently been championing the use of XBRL in other areas such as corporate actions and in establishing a single data standard in the mortgage backed securities (MBS) market. Mark Bolgiano, president and CEO of XBRL US, spoke about the idea of XBRL tagging in the asset backed securities (ABS) markets last month.

“XBRL US has developed a prototype dictionary of terms for residential mortgage backed securities (RMBS) which could be a starting point to a broader development of XBRL data in the ABS market,” he explained. Philip Moyer, XBRL US board member and CEO of Edgar Online, has been heading a team at the standards body to develop the XBRL dictionary for mortgage data, which Bolgiano indicated is now ready for use.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Streamlining trading and investment processes with data standards and identifiers

Financial institutions are integrating not only greater volumes of data for use across their organisation but also more varieties of data. As well, that data is being applied to more use cases than ever before, especially regulatory compliance and ESG integration. Due to this increased complexity of institutions’ data needs, however, information often arrives into...

BLOG

November 2025 Deadline for ISO 20022: Are We Ready?

Global payment networks are undergoing a fundamental transformation as the financial industry transitions to ISO 20022 – a structured messaging standard designed to replace legacy formats and drive interoperability. In capital markets and treasury operations, this shift is most evident in the SWIFT cross-border payments network and high-value systems like the U.S. Fedwire. SWIFT’s Cross-Border...

EVENT

Data Management Summit New York City

Now in its 15th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...