The European Securities and Markets Authority (ESMA) has issued new guidelines to ensure that sustainability information from listed companies is supervised with the same seriousness as financial reporting. From 1 January 2025, national regulators across the EU are expected to apply a harmonised enforcement approach under the Transparency Directive.
The European Securities and Markets Authority (ESMA) recently released its annual report detailing the enforcement actions of corporate reporting enforcers across the European Union in 2024. The report sheds light on how well issuers complied with financial, non-financial, and digital reporting requirements under the relevant EU frameworks.
The European Commission has taken formal action against 17 EU member states for failing to fully implement the Corporate Sustainability Reporting Directive (CSRD) by the July 2024 deadline. In letters sent to countries including Germany, Spain, and Poland, the Commission opened infringement procedures, signalling its desire to get this initiative implemented.
Earlier this month the European Securities and Markets Authority (ESMA) published a Final Report on the Guidelines on Enforcement of Sustainability Information (GLESI) and a Public Statement on the initial application of the European Sustainability Reporting Standards (ESRS).
The US’s Financial Data Transparency Act of 2022 (FDTA), which came into force in December 2022, mandates the Securities and Exchange Commission (SEC) to report on the use of machine-readable data for corporate disclosures.
In a recent article for Bloomberg, legal analyst Kate Azevedo provides some keen insights into the US Securities and Exchange’s (SEC) expanded use of XBRL tagging to enhance enforcement.
The US Securities and Exchange Commission (SEC) has recently pursued several high-profile enforcement actions, accusing companies of fraudulently misleading investors about ESG-related issues.
The European Securities and Markets Authority (ESMA) has published its 2022 Corporate Reporting Enforcement and Regulatory Activities Report, outlining activities related to financial and non-financial information, and European Single Electronic Format (ESEF) reporting.
We were interested to note that the US Securities and Exchange Commission (SEC) has “nearly doubled” the size of its Crypto Assets and Cyber Unit (formerly simply the Cyber Unit), part of its Division of Enforcement.
The UK’s Financial Reporting Council (FRC) is on course to significantly strengthen its oversight of audit.
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