The European Securities and Markets Authority (ESMA), has written to the European Commission with its proposals to improve the EU Transparency Directive following the Wirecard case.
As the first financial reports produced using the European Single Electronic Format (ESEF) are filed across Europe, we’ve been taking a little tour of the continent to find out how early implementation is unfolding – and this week we’re in Sweden.
This week has seen several substantial news items from Europe on sustainability and Environmental, Social and Governance (ESG) reporting, so we’re bringing you a roundup here.
The European Securities and Markets Authority (ESMA) has launched a consultation on draft technical standards on crowdfunding under the new European crowdfunding service providers regulation (ECSPR).
As we continue to follow the news of both delays to the European Single Electronic Format (ESEF) mandate and early voluntary ESEF filings, useful as ‘dry runs’, we’re pleased to note a first from the Netherlands.
If you have views on the proposed European Single Access Point, now is the time to make them known! The European Commission consultation was originally closing next week, but has now been extended by a week through 12 March 2021.
Did you know that the EU’s Single Resolution Board (SRB) has four key resolution tools it can use if a bank is failing? These aim to maintain banks’ critical functions and financial stability at minimal cost to taxpayers.
While updates have been trickling in in recent weeks, there’s now official news on the European Single Electronic Format (ESEF) mandate. The European Commission (EC) has published a list of countries that have opted for a one-year ESEF postponement due to Covid-19, pushing its start to January 2022.
Ukraine is gearing up for XBRL-based financial reporting for the first time in 2021. With a new, tailored taxonomy and data collection system in place, the country is looking forward to improved reporting and structured financial data in a single electronic format that will be comparable and compatible with EU and international standards.
How would Europe’s banks fare under seriously adverse conditions – for example if the Covid-19 pandemic is prolonged? We’re set to find out; on 29 January the European Banking Authority (EBA) launched the 2021 EU-wide stress test, and released the macroeconomic scenarios for the test.