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Items tagged with "disclosures"

EIOPA Consult on Disclosure Requirements

The European Insurance and Occupational Pension Authority (EIOPA) has launched a consultation on the appropriateness and proportionality of public disclosure, in preparation for its 2020 Solvency II Review. EIOPA is assessing the appropriateness and proportionality of supervisory reporting and public disclosure content, volume, frequency and deadlines, and checking if existing exemption requirements are sufficient. While […]

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California Moves Towards State Level XBRL

California could be on their way to join Florida in leading America’s state and local government towards transparent, easily accessed financial statements. The Open Financial Statement’s Act, SB 598, which has passed in the Senate and is soon to go to Senate Assembly, is the latest in a long trail of small steps towards local […]

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UK Considering Mandatory Climate-Related Financial Disclosure

Under a proposed new Green Finance Strategy announced this week the UK Government expects listed companies and large asset owners to disclose the impact of climate change on their businesses from 2022. The Treasury is considering the most effective way of ensuring that this disclosure happens, including, if necessary, requiring mandatory disclosure. The Green Finance […]

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Standardised Reporting Relevant for Business

Dr Nicolas Peter, Chief Financial Officer of BMW AG, gave a keynote address outlining BMW’s own experiences with standardised reporting at a stakeholder event in Munich on 26 June 2019, hosted by the IFRS Foundation and the Deutsche Rechnungslegungs Standards Committee (DRSC). Dr Peter demonstrated how the development of global, uniform accounting, underpinned by the […]

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TCFD Status Report Shows Steady Progress

The Task Force on Climate-related Financial Disclosures (TCFD) have published their second Status Report, analysing the extent to which companies have aligned their disclosures with the TCFD’s core recommendations. The Status Report has found an encouraging steady increase in the support for TCFD recommendations – with more than 800 organizations expressing support – and has […]

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US Updates EDGAR

On 10 June the US Securities and Exchange Commission (SEC) announced that the EDGAR system has been updated to version 19.2. Amongst other changes, the latest update to EDGAR ensures it can support the 2019 IFRS Taxonomy, and EDGAR version 19.2 will no longer support the 2017 US GAAP, 2016 Currencies, 2014 DEI and 2017 […]

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TCFD Implementation Guide Now Available

Global markets have, in theory, recognised the need for climate-related-risk reporting – but in practice, implementing effective disclosure practices can be a daunting task. More than 600 organisations have shown support for the Task Force on Climate Related Disclosure’s proposals; however, take-up has been slow, with a number of companies calling for more practical guidance. To […]

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SEC Propose Amendments to Acquisitions and Dispositions Disclosures

The Securities and Exchange Commission (SEC) has proposed amendments and improvements to disclosure rules relating to mergers and acquisitions (and the sale of business assets) and is now seeking comments. The amendments seek to balance the need to provide investors with the information they need to effectively understand the impact of significant acquisitions or disposals with the […]

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A Deep Dive into SEC Amendments

Harvard Law School’s Forum on Corporate Governance and Financial Regulation have published a deep dive into the SEC’s most recent disclosure amendments as part of their series on disclosure simplification.

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CII Defends Quarterly Reporting

The highly influential Council for Institutional Investment (CII) have joined XBRL US and the CFA Institute in voicing their support for the SEC’s current quarterly reporting system. In December the SEC posted a request for input on the effects of mandated quarterly reporting and earnings releases. They were looking for comments on the nature, content and timing of reporting, […]

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