What are the current gaps where more data is needed for good regulatory decisions? That’s the question explored by Commissioner Caroline A. Crenshaw of the US Securities and Exchange Commission (SEC) in an excellent keynote address to the 8th Annual Conference on Financial Market Regulation, titled ‘Mind the (Data) Gaps.’
Special Purpose Acquisition Companies, or SPACs, are generating a surge of restatements correcting past financial reports, following last month’s accounting clarification from the US Securities and Exchange Commission (SEC).
Over in the Taggings section of the XBRL International website we have a very interesting guest post from Stanislav Korop, Deputy Director Data Governance Department, Bank of Russia, on the activities and successes of XBRL Russia.
“Corporations are at an inflection point when it comes to ESG,” says Wes Bricker, Vice Chair – US and Mexico Assurance Leader at PwC and Chair of XBRL International’s Board of Directors, in a short guest post at ESG Today that nonetheless offers plenty to think about.
The Australian Prudential Regulation Authority (APRA) has confirmed that its new data collection system, APRA Connect, will launch in September 2021.
The European Banking Authority (EBA) has published a discussion paper inviting input on its standardised non-performing loan (NPL) data templates. These provide a common basis for data exchange in secondary markets, forming part of the overall strategy to tackle NPLs in the EU.
In another great opinion piece from our Board, Mohini Singh, ACA, Director of Financial Reporting Policy at CFA Institute and Treasurer of the XBRL International Board of Directors, writes in Reporting Times on ‘The need for high-quality, globally comparable international sustainability standards.’
The European Banking Authority (EBA) has affirmed that its EU-wide 2021 transparency exercise will be carried out in autumn, with the launch planned for September. This annual exercise is part of the EBA’s endeavours to foster transparency and market discipline.
Jean-Paul Servais, Vice Chair of the International Organization of Securities Commissions (IOSCO) and Chair of the International Financial Reporting Standards (IFRS) Foundation Monitoring Board, recently explored why IOSCO believes in the IFRS Foundation Trustees’ sustainability initiative and how IOSCO will support it.
Admittedly, one for the financial regulators! Those who fail to learn from history are condemned to repeat it… and this is certainly true in relation to financial crises.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
