European banks are seeking clarification on the European Banking Authority’s (EBA’s) e-money transaction and reporting regulations. Following an EBA workshop, banks from nine European countries have endorsed a note requesting clarification on the definition of e-money transactions and the related reporting requirements. EBA’s guidelines on fraud reporting under PSD2 require banks to report fraudulent e-money […]
The European Securities and Markets Authority (ESMA) has called on issuers to improve their disclosure of Alternative Performance Measures (APMs) in a recent report. The report assessed to what extent issuers comply with the guidelines for reporting alternative performance measures, finding significant room for improvement. Commonly used APM’s include earnings before interest and tax (EBIT), […]
The European Securities and Markets Authority (ESMA) review of market data prices has found that the Markets in Financial Instruments Directive (MiFID II) has not delivered on its objective of reducing the cost of market data or of establishing a consolidated tape for equities. MiFID II requires venues and data providers to publish market data […]
As the year draws to a close the EU is going through the process of adopting the first review of the European system of financial supervision (ESFS) since it was established in 2011. The ESFS was established in 2011 in response to the 2008 financial crisis. It consists of the three European supervisory authorities (ESAs); […]
On November 5 the European Banking Authority (EBA) published an updated version of data point model 2.9.1, the accompanying taxonomy, and an updated list of validation rules. Updates to the reporting framework will take effect at different dates dependent on regulatory requirements. Find the updates and all related files here.
Europe’s Single Resolution Board (SRB) is taking steps to protect taxpayers from having to bail out the banks. This week they have published a taxonomy extension in order to facilitate their shift to full XBRL reporting in 2020. The SRB was formed in response to the ‘too big to fail’ problem revealed by the 2008 financial crisis. In […]
The European Securities and Markets Authority (ESMA) has published priorities for European regulators to consider when examining the 2019 annual financial reports of listed companies. In particular, ESMA have prioritised enforcing the recent changes made to financial reporting standards. This includes exercising significant judgement in the application of Lease disclosures under IFRS 16, noting the improvement […]
This week The European Insurance and Occupational Pensions Authority (EIOPA) launched a field test on revised and proposed templates as part of the 2020 Solvency II reporting and disclosure review. The review covers both the content and structure of different templates, with this field test designed to identify main issues with the new and revised […]
At a conference organised by the European Commission (EC) and Deloitte this week, experts discussed the next steps for digital reporting for EU companies.
Next week XBRL International CEO John Turner will talk about the future of technology and transparency at an EU Commission conference in Brussels, hosted by Deloitte. Transparency is essential for capital markets to function efficiently: investors need to know what they are investing in to make the best decisions for their capital. While the EU […]