The European Central Bank (ECB) has published its third assessment of European banks’ progress in disclosing climate and environmental risks. While most banks have increased their disclosures in the past year, the quality of information still falls short of upcoming supervisory standards.
The European Central Bank (ECB) has been exploring the possibility of launching a digital version of the euro as a way to enhance financial innovation and provide consumers with a safe, secure, and convenient means of payment.
The Hong Kong Stock Exchange (HKEX) has proposed making climate related disclosures mandatory for all issuers, requiring reporting using the International Sustainability Standards Board (ISSB) standards, from 1 January 2024.
XBRL US CEO Campbell Pryde took a deep dive into bank regulation in the wake of the recent Silicon Valley Bank failure. He points out that XBRL data could have easily helped predict the crisis, as financial statements demonstrated the fragility of SVB’s finances.
The European Supervisory Authorities (ESAs) – the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) – released a consultation paper with proposed amendments to the Delegated Regulation of the Sustainable Finance Disclosure Regulation (SFDR).
The recently passed Financial Disclosure Transparency Act (FDTA) requires the US Securities and Exchange Commission (SEC) and other regulators to adopt data standards for — inter alia — municipal data collection and reporting. Although the act passed in December 2022, the details of implementation are still a work in progress.
At the recent Innovate Finance Global Summit, Jessica Rusu, Chief Data, Information, and Intelligence Officer of the UK’s Financial Conduct Authority (FCA), delivered a speech highlighting the importance of innovation, AI, and data-driven regulation in the future of finance.
We are pleased to announce that Visma Connect’s Visma XBRLValidPro has passed the XBRL software certification process.
At the recent G7 Ministers’ Meeting on Climate, Energy and the Environment in Sapporo, Japan, the G7 climate and environment ministers called for the implementation of mandatory climate-related financial disclosures. The move is seen as necessary to help achieve global climate goals and accelerate sustainable finance.
With new generative AI systems and applications being released, announced or demonstrated daily, it is hardly surprising that this new breed of tools is also catching the eye of regulators and law makers around the world.
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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.
