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The AAO Weblog covers accounting issues and current events as they relate the practice of investment analysis. All posts prior to September, 2007 are in the public domain, but after September 4, only subscribers to The Analyst's Accounting Observer will see all posts going forward. Only selected, occasional posts will be released to the public domain from September 4 forward.

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The SEC Wants YOU... To Help Fight Terrorism?
Location: BlogsAAO Weblog (Public)    
Posted by: Jack Ciesielski 6/26/2007 2:28 AM
A press release from the SEC yesterday highlighted their new investor "software tool" for identifying companies doing business in countries that the State Department has identified as sponsors of terrorism.

From the press release:

"...Chairman Cox said, “No investor should ever have to wonder whether his or her investments or retirement savings are indirectly subsidizing a terrorist haven or genocidal state. The law already requires companies to report on any material activities in a country the Secretary of State has formally designated a State Sponsor of Terrorism. Our role is to make that information readily accessible to the investing public. Making it easier to find significant information such as this by tapping the power of technology is central to the SEC's mission.” They've succeeded, and quite well I think. A quick spin around the site showed a lot of companies I'd never imagined doing business in countries that I'd never wish they would. It's all information extracted from 10-K filings. Did the SEC build the "software tool" (they should have come up with a better name - maybe "terror trawler") from XBRL technology? The release didn't mention it, but it would have been a dandy showcase opportunity.
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