SEC Announces XBRL Taxonomy for Foreign Private Issuers Reporting under IFRS; Implementation Required for Fiscal Years Ending December 31, 2017

The SEC recently announced that foreign private issuers reporting under IFRS must file their financial statements in XBRL, an interactive data format, for fiscal years ending on or after December 15, 2017.

This memorandum summarizes the new requirements and what this means to foreign private issuers reporting under IFRS.