NASACT recently sent a letter to the Securities Exchange Commission in response to the Financial Data Transparency Act Joint Data Standards Proposed Rule. Generally, the association is encouraging affected agencies to seek ways to streamline processes and alleviate burdens as they take future steps to provide more guidance through their own rulemaking. Additionally, NASACT recommends that the SEC consider the burden of increased and more complex reporting on governments and scaling the data standards to the size and complexity of entities to ensure that smaller governments are not unduly disadvantaged.

Click to read the full letter and a summary of member comments on the proposal.