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BIS

BIS Paper Shows Regulation Promotes Growth

By Editor on October 12, 2018

A paper published by BIS this week supports the – hopefully uncontroversial – view that financial regulation upheld by international standards is vital for economic growth. The working paper studies the effects of prudential regulation, financial development and financial openness on economic growth. Based on an analytical review of the channels through which prudential regulation can affect growth and an empirical analysis of the economies in 64 countries, the paper concludes that growth is promoted by regulation that mitigates financial risks. At the same time, financial openness tends to reduce the growth benefits of regulation, potentially due to the opportunities to associated with regulatory arbitrage: conducting financial business in countries where the rules are less strict, or at least different.

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FASB Leases Analysis

By Editor on October 12, 2018

In the US, FASB’s new standard on leases, ASC 842, will come into mandatory effect in January 2019. The new standard will require companies to report leasing costs on the balance sheet, rather than in the notes to the accounts. Leasing debt will be reported as a liability, and “right of use” as an asset, […]

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Regulator Using Blockchain for Cyber Security

By Editor on October 12, 2018

This week the Israel Securities Authority (ISA) said that it has started using blockchain technology to improve cybersecurity – particularly information security, to protect against fraud and ensure the data submitted to the ISA is safe. The ISA have embedded blockchain in their ‘Yael’ system, which is used by the government agency to deliver information […]

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ESEFESMA

XBRL Sweden Conference Presentations Available

By Editor on October 12, 2018

Our colleagues at XBRL Sweden held their annual conference on October 4 – congratulations on a successful and enlightening day! If you couldn’t make it, the presentations from the conference are now available to download on their website.

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HMRCTaxonomy

HMRC Update Taxonomy

By Editor on October 12, 2018

On October 9 the UK’s HMRC updated their guidance on the taxonomies they accept for company tax returns.

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Update of SEC’s Data Test Suite

By Editor on October 12, 2018

The SEC published an update of it’s interactive data test suite last week. If you are a vendor that works in that field you’ll need to go and check it out…. review a summary of the changes here and the Data Test Suite here.

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EBA

EBA Risk Dashboard Shows Improvement

By Editor on October 12, 2018

Positive news from the European Banking Authority (EBA) this week as their periodic risk assessment of the EU baking sector shows on-going improvements.

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MBRSSSM

Companies Commission of Malaysia XBRL Project Commences

By Editor on October 5, 2018

We are delighted to see SSM, the Malaysian business registrar adopting XBRL for countrywide annual and financial filings this week with the introduction of the Malaysian Business Reporting System (MBRS). This is a major step, facilitating greater transparency and simpler analysis by helping to gather large quantities of high-quality data.

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Big DatafintechSecurities and Exchange Commission

Data Revolution in Financial Markets: Consequences and Solutions

By Editor on October 5, 2018

Markets have always relied on trust and information to function; however, the accelerating changes in the data economy over the past decade require new approaches. In an important speech, SEC Commissioner Kara Stein outlined several issues that financial regulators, companies and markets need to react to. These are issues that “affect you, your money and your identity” as she puts it.

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