Although the SEC's chairmen Christopher COX has made many statement regarding XBRL and it's benefits, investing $54 Million into EDGAR to transform it into an XBRL based system goes a really long way to proving they are serious about it.
FOR IMMEDIATE RELEASE2006-158
Agency Invests $54 Million in Three Contracts Toward Transformation of EDGAR Database
Washington, D.C., Sept. 25, 2006 — U.S. Securities and Exchange Commission Chairman Christopher Cox announced today that the SEC has awarded three separate contracts totaling $54 million to transform the agency’s 1980s-vintage public company disclosure system from a form-based electronic filing cabinet to a dynamic real-time search tool with interactive capabilities.
Complete release can be found here.
Dominic Jones over at IR Daily does a good job of putting this into context.
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