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Compliance Newsflashes: SEC Seeks XBRL Tools for Web, and more

SEC Releases RFP for XBRL Web Tools, FaceTime and Proofpoint Partern for Email and IM Compliance, Kaplan Financial Launches Virtual Series 7 Training

SEC Distributes RFP for Web-Based XBRL Tools

The Securities and Exchange Commission is planning to create Web tools that will let investors and analysts exploit interactive data to analyze mutual fund and corporate information.

The Commission released a request for proposal for the development of Web-based analysis software that will enable investors and analysts to use interactive data encoded in the Extensible Business Reporting Language (XBRL) format.

"The SEC's Web site will feature easy-to-use software that will allow any investor, analyst, or company to discover the possibilities of interactive data. Looking down the road, we expect that commercially available software products will serve customers in many more sophisticated ways to take advantage of interactive data," said chairman Christopher Cox, in a release.

Interactive data has the potential to enable individual investors and investment professionals to quickly search for and analyze any particular items of information from financial reports, such as individual line items from the financial statements, text-based information including accounting policies or mutual fund expenses, and also to easily compare them from company to company and industry to industry. Interactive data also can allow automatic, real-time delivery of SEC financial data direct to anyone's desktop.

The Commission has already launched initiatives to test the use of interactive data in periodic reports for corporations and in investment company reports. More than two dozen companies of all sizes, including some of the largest companies in America, have joined the SEC's interactive data test group, and the agency is continuing to accept new participants.

FaceTime and Proofpoint Partner to Provide IM and E-mail Compliance Platform

FaceTime Communications, a solutions provider for securing and managing electronic communication, and Proofpoint, a provider of large-enterprise messaging security solutions, have formed a strategic partnership whereby the companies will provide interoperable solutions for IM and e-mail security and compliance in a single platform.

Enabled by FaceTime's IMAuditor, the integration between FaceTime and Proofpoint allows IM, P2P, e-mail, Web-based e-mail and FTP messaging security policies to be created, managed and enforced through a centralized, Web-based interface. In this integrated solution, IMAuditor communicates IM conversations - including file transfer content - to Proofpoint's messaging security solutions for further processing and policy enforcement.

Customers of Proofpoint's messaging security solutions can now extend Proofpoint's protection for email, HTTP and FTP channels to IM and P2P networks, allowing enforcement of messaging security policies across all communication channels.

"Working with FaceTime, we can make it easier for our customers to ensure that all communications from the company adhere to internal policies and compliance regulations, regardless of protocol," said Andres Kohn, vice president of product management for Proofpoint, in a release.

Kaplan Financial Launches Virtual Class for Series 7

Kaplan Financial, an education and compliance solutions provider for financial services institutions and individuals, is launching new virtual test prep classes for the Series 7 securities exam.

The virtual exam prep is geared toward both the individual test-taker as well corporate training managers who can help their employees prepare for the exam. Virtual classes feature Kaplan Financial's test-focused content and instructors in an interactive environment. Students will experience a live Kaplan Financial classroom from anywhere they are located.

"Our customers expressed interest in virtual test prep to reach learners in remote areas, provide a consistent learning experience, and save travel time and money," said Andrea Mainelli, Kaplan Financial's President and CEO, in a release. "In addition, the interactive, visually appealing features of the course will actively engage students in the learning experience, which will likely increase retention and comprehension, helping them pass the Series 7 exam the first time they take it." Series 7 virtual classes are conducted for 30 hours over four days. The cost for the classes and materials are $379. Kaplan Financial plans to make Series 6, Series 63 and Series 66 virtual classes available in the Fall.

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