The U.S. Securities and Exchange Commission today announced the list of panelists scheduled to participate in a roundtable on the use of interactive data for financial reporting.

Panelists and participants include Ontario Securities Commission vice chair, Jim Turner, along with representatives from Spain, India, China, the Netherlands, Israel and Japan, among others. The meeting is scheduled for June 10.

The SEC notes that a number of countries already require public companies to provide their financial reports in interactive data. Others, including the US, are proposing to require it. Still others are currently considering it. The SEC proposed on May 14 to require U.S. reporting companies to provide their financial statements and footnotes in interactive data starting, for large companies, with reporting periods ending on or after Dec. 15, 2008.

Financial reporting in interactive data format relies on computer “tags” that function like bar codes to identify each item on an income statement or balance sheet. With every number individually labeled, investors, analysts and others can easily use the information within spreadsheets and analytical software.

SEC Chairman Christopher Cox will open the roundtable, which will discuss the experience in countries that have already adopted interactive data; the views of countries currently considering adopting interactive data; and the perspectives from analysts and users of financial information about how best to take advantage of the capabilities of interactive data.