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IMF Explore the Rise of Digital Money

July 30, 2019

Tomorrow, when you buy your morning coffee will you rifle through your wallet for some coins or a card, or wave your phone? Or maybe send a text, or deposit a digital token? The way we pay for things is changing, with e-money challenging traditional cash and bank deposits. How should we think of new digital […]

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CIPC to Implement iXBRL Project’s Second Stage

July 30, 2019

South Africa’s Companies and Intellectual Property Commission (CIPC) became the first regulator in Africa to roll out full scale implementation of Inline XBRL a year ago, in July 2018. After successful completion of the project’s first stage, they are ready to move on to stage two: enforcement and taxonomy updates. Last year the CIPC mandated […]

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SEC Digitisation Benefits Met with Optimism

July 30, 2019

The SEC’s recently expanded requirements to report in Inline XBRL have been met with optimism, with the change being linked to increasing simplicity, improving data quality and use and enabling financial analysis. Craig Clay, president of global capital markets at Donnelley Financial Solutions, has highlighted how companies are looking to automate and streamline compliance reporting, […]

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Is Short-termism a Problem in the US?

July 30, 2019

July 18 saw the SEC Staff Roundtable discussing short-termism in public companies and whether the periodic reporting system needs altering to encourage long-term thinking. SEC Chairman Jay Clayton made some salient remarks in his closing comments, highlighting how investment decisions both long and short term rely substantially on timely and high-quality disclosures. To move forward, […]

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Quarterly Reporting Supported by Investors

July 30, 2019

A CFA institute survey in response to the Securities and Exchange Commission’s (SEC) request for comment on the debate over quarterly reporting has emphatically shown there is no support for altering reporting intervals amongst investors. The SEC has been debating the idea that quarterly disclosures, especially when coinciding with voluntary earnings releases, could be too […]

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Help Test iXBRL Support for European Date Formats

July 30, 2019

In anticipation of the upcoming European Single Electronic Filing (ESEF) mandate, the XBRL International Base Spec Working group has prepared new transformation rules that allow dates to be reported in Inline XBRL documents using different European languages and conventions. The working group is actively seeking feedback and review of these rules in order to ensure that they will meet the […]

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EIOPA Consult on Disclosure Requirements

July 30, 2019

The European Insurance and Occupational Pension Authority (EIOPA) has launched a consultation on the appropriateness and proportionality of public disclosure, in preparation for its 2020 Solvency II Review. EIOPA is assessing the appropriateness and proportionality of supervisory reporting and public disclosure content, volume, frequency and deadlines, and checking if existing exemption requirements are sufficient. While […]

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Fintech Regulation Across the EU Mismatched

July 30, 2019

The European Banking Authority (EBA) have published a report analysing how the regulatory framework is applicable to fintech firms, illustrating the changing regulatory status of fintech firms and the different approaches of authorities across Europe. The report has noted two particular developments in the regulatory status of fintech firms. Firstly, many firms are shifting from […]

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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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