; (ii) be nonproprietary; (iii) incorporate standards developed and maintained by voluntary consensus standards bodies; and (iv) be consistent with and implement applicable accounting and reporting principles. (C) Incorporation of standards In adopting data standards by rule under this paragraph, the Commission shall incorporate all applicable data standards promulgated by the Secretary of the Treasury. . (e) Data standards for corporate disclosures under the Securities Act of 1933 Section 7 of the Securities Act of 1933 ( 15 U.S.C. 77g ) is amended by adding at the end the following: (e) Data standards (1) Requirement The Commission shall, by rule, adopt data standards for all registration statements and for all prospectuses included in registration statements required to be filed with the Commission under this title, except that the Commission may exempt exhibits, signatures, and certifications from such data standards. (2) Characteristics The data standards required by paragraph (1) shall, to the extent practicable— (A) render information fully searchable and machine-readable; (B) be nonproprietary; (C) incorporate standards developed and maintained by voluntary consensus standards bodies