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Japan looks to Suptech Automation for Financial Monitoring

July 19, 2019

The Japanese Financial Services Agency (JFSA) has a bold plan to put Suptech (supervisory technology) to use in improving the sophistication and efficiency of its financial supervision.

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EBA Amends Technical Standards

July 19, 2019

The European Banking Authority (EBA) has published final draft amendments to the Implementing Technical Standards (ITS) on supervisory reporting under the FINREP framework. The amendments aim to improve reporting requirements on non-performing exposures and forbearance. Changes to the reporting requirements on profit or loss items, including requiring operating and administrative expenses, have also been made. […]

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ESMA Report Finds Gaps in Crypto-Asset Regulation

July 19, 2019

The European Securities and Markets Authority (ESMA) have published a report looking into the inconsistencies of fintech licencing across the EU. ESMA surveyed national competent authorities on the licensing regime of fintech firms in their jurisdictions, looking to assess how existing regulation of fintech firms diverge. While national authorities across the EU do not treat […]

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Leveraged Loans Vital Financial Information

July 19, 2019

An article in the Financial Times has highlighted a growing trend for private equity owners in the $1.2 trillion leveraged loan market to structure “covenant lite” lending to the companies within their portfolios, potentially leaving investors in the dark. Interest in leveraged loans – higher risk, higher interest loans for companies with poorer credit history – has […]

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Solvency II Taxonomy

July 19, 2019

On 15 July the European Insurance and Occupational Pensions Authority (EIOPA) released its updated Solvency II Data Point Models and XBRL taxonomies. The taxonomy and all related documents, including filing rules, details of the changes made,  the Data Point Model, validations and instructions can be found here.

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ESEF Updates Reporting Manual

July 19, 2019

The European Securities and Markets Authority (ESMA) has published an update of its European Single Electronic Format (ESEF) Reporting Manual including expanded guidance on common issues encountered when generating XBRL documents in line with ESEF regulation. The manual is aimed at all market participants implementing ESEF, and should be particularly helpful for those preparing IFRS […]

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Updated IFRS Business Rules

July 19, 2019

The IFRS Taxonomy formula linkbase 2019 (the technical term for the business rules published as part of the IFRS taxonomy) is now available to download. The 2019 version includes updates reflecting a range of changes made to the IFRS Taxonomy  this year. These business rules can help preparers increase the accuracy of their reports by helping validate the […]

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Big Data Could Warn of Company Distress

July 12, 2019

The Danish Business Authority, one of Early Warning Europe’s 15 partners has developed a machine learning tool that uses publicly available accounting data to identify companies in financial distress.

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Can Regtech Solve the Fintech Problem?

July 12, 2019

As we’ve reported here before, the financial system is currently undergoing a technological revolution that regulators must respond to. Cryptocurrencies, new payment systems (tap to pay is becoming the norm) and digital banking all need new forms of oversight. At the same time, banking supervision is a highly complex system, with regulatory submissions reaching record […]

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SEC Roundtable on Short-Termism Coming Up

July 12, 2019

The Securities and Exchange Commission (SEC) are hosting a roundtable on July 18 to hear from investors, issuers and others on the impact of short-termism on capital markets. An excessive focus on short-term results in corporate thinking could lead to inefficient capital markets, poor investment returns and economic instability – however, the cause of short-termism […]

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