The Securities and Exchange Commission is urging mutual funds to utilize its newly launched volunteer program to report key financial information via Microsoft's eXtensible Business Reporting Language (XBRL), a code that enables documents to be filed on EDGAR in a uniform manner.

SEC Chairman William H. Donaldson said: "There is an escalating demand for efficient and transparent reporting of results by companies using innovative technologies. We are continually seeking ways to fulfill our regulatory responsibilities, while providing benefits to everyone who uses the SEC's public disclosure process."

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