Action on greenwashing has been accelerating around the world to safeguard investors and market integrity in the sustainable finance realm. The International Organisation of Securities Commissions (IOSCO) recently published a paper shining a light on various initiatives in the burgeoning sustainability space.
As we have written here before, the Basel III requirement for banks to publish a range of safety and soundness data — a summary of the prudential data they disclose to central banks and regulators — has largely been a failure.
Heightened transparency is on the horizon at state and municipal level in the US, with last years Financial Data Transparency Act (FDTA) set to transform the way local governments, including school districts, disclose financial information by introducing a machine-readable format.
The European Supervisory Authorities (ESAs) kick off a public consultation on the second batch of policy mandates under the Digital Operational Resilience Act (DORA). Enacted on January 16, 2023, DORA is set to be in full swing from January 17, 2025, harmonising operational resilience rules for 21 types of financial entities.
The European Banking Authority (EBA) recently conducted its 2023 stress test, providing a comprehensive assessment of the European banking system’s resilience and vulnerabilities. Notably, the data underpinning this evaluation is sourced from digital regulatory data, demonstrating the utility of digital technology in supervision.
Following a court decision in the US Court of Appeals 5th Circuit, the US Securities and Exchange Commission (SEC) has decided to delay the Repurchase Rule, making the date for implementation at least uncertain. It’s an interesting demonstration of the importance of data and disclosure, and the complexity of modern regulation.
The European Banking Authority (EBA) have revamped their website, adding some useful new features in the process to help ease the journey of supervisory changes and increase understanding of regulatory frameworks.
We’re delighted to announce that report creation software product Reportl by Friend Studio has passed the necessary testing to gain XBRL Certified Software Status.
With South Korea expanding the scope of XBRL tagging to include the notes to accounts, FNN news recently interviewed Hyeong-nam Lee, Director of Deloitte’s XBRL Center, about their experiences with the standard.
The UK’s Financial Reporting Council (FRC) has published new suggestions for corporates responsible for reporting in Inline XBRL to the UK’s National Storage Mechanism. We think it should be required reading for all companies reporting in Inline XBRL, wherever they are.
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