India’s banks are set to roll out a unique system designed to give 560 million internet users unprecedented control over their own financial data. The new system will give people the ability to decide what data to share, with whom, and for how long. It takes advantage of pre-existing requirements for data to be reported […]
The XBRL Standards Board has voted to promote a number of additional data types to the Recommended status from their previous Candidate Recommendation state, following extensive testing from within the community, including by multiple vendors. These include data types that support Extensible Enumerations 2.0 and the OIM specifications, restricted monetary types, and physical measurements, amongst others. A complete […]
Investors are increasingly demanding more extensive and clearer reporting on environmental, social and governance (ESG) factors, and while the E of ESG commands the majority of attention, governance should not be overlooked. The UK’s recent Financial Reporting Council report on workforce related corporate reporting identifies areas where companies need to improve in order to reflect […]
European banks are seeking clarification on the European Banking Authority’s (EBA’s) e-money transaction and reporting regulations. Following an EBA workshop, banks from nine European countries have endorsed a note requesting clarification on the definition of e-money transactions and the related reporting requirements. EBA’s guidelines on fraud reporting under PSD2 require banks to report fraudulent e-money […]
This week investment powerhouse BlackRock – who manage $7 trillion of assets – set out a compelling case that climate change is a defining factor in companies’ long-term prospects – and their plan to tackle this by becoming a leader in sustainable investing. The world’s largest fund manager plans to divest from companies who get more […]
The US federal government has begun the new decade with a focus on data; issuing a set of 20 actions agencies will be required to take in 2020 on how they collect, manage, share and use data. This plan is the first building block in a decade long Data Strategy that aims to transform how […]
The US aren’t the only ones turning their attention to data this year: earlier this month the UK’s Financial Conduct Authority (FCA) and the Bank of England announced proposals for data reforms across the UK financial sector. With technology changing the nature of the markets they regulate, both authorities have issued plans designed to develop […]
We’re pleased to announce that another software product has gained XBRL Certified Software status: firesys toolsxbrl has met the stringent technical criteria that ensure the interoperability of XBRL Certified Software products. Details of all certified software can be found on our certification portal. Vendors of software holding a current certification are entitled to use the certified […]
The opportunities (and risks) presented by fintech are creating undeniable and unavoidable changes to economies worldwide – but how should regulators respond? The Expert Group on Regulatory Obstacles to Financial Innovation (ROFIEG) was set up by the European Commission in June 2018 to explore this question. Recently it published its recommendations, both identifying regulatory obstacles […]
As part of a number of regulatory requirements established in recent months, this week the Reserve Bank of India (RBI) mandated regular XBRL reporting for urban co-operative banks (UCBs). UCBs are co-operatively owned, usually formed around communities or small groups with a common interest and used to finance small businesses within that community. They have […]
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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.
