; and (D) be consistent with and implement applicable accounting and reporting principles. (3) Incorporation of standards In adopting data standards by rule under this subsection, the Commission shall incorporate all applicable data standards promulgated by the Secretary of the Treasury. . (i) Rulemaking (1) In general Not later than the end of the 2-year period beginning on the date of the enactment of this Act, the Securities and Exchange Commission shall issue the regulations required under the amendments made by this section. (2) Scaling of regulatory requirements In issuing the regulations required under the amendments made by this section, the Securities and Exchange Commission may scale data reporting requirements in order to reduce any unjustified burden on emerging growth companies, lending institutions, accelerated filers, smaller reporting companies, and other smaller issuers, as determined by the study required under section 205(c), while still providing searchable information to investors. (3) Minimizing disruption In issuing the regulations required under the amendments made by this section, the Securities and Exchange Commission shall seek to minimize disruptive changes to the persons affected by such regulations. 202. Open data publication by the Securities and Exchange Commission Section 4 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78d ) is amended by adding at the end the following: (j) Open data publication All public information published by the Commission under the securities laws and the Dodd-Frank Wall Street Reform and Consumer Protection Act shall be published as open data, freely available for download in bulk, accessible via application programming interface where appropriate, and offered without any registration requirement or reuse restriction. . 203. Data transparency at the Municipal Securities Rulemaking Board (a) In general Section 15B(b) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78o–4(b) ) is amended by adding at the end the following: (8) Data standards (A)