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Items tagged with "EU"

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EBA initiates 2023 EU-wide transparency exercise to enhance financial market oversight

Earlier this month the European Banking Authority (EBA) launched its annual EU-wide transparency exercise, with the aim of enhancing risk monitoring, vulnerability assessment, and the promotion of market discipline.

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Exploring the landscape of ESEF implementation: insights and challenges

The European Single Electronic Format (ESEF) made its debut in 2021, marking a significant milestone in the digital transformation of financial disclosures for European companies. ESEF’s introduction has opened new avenues for accessing issuer data, fundamentally altering the landscape for financial professionals.

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EBA Pillar 3 initiative accelerates: banks gear up for ESG and green reporting

The European Banking Authority (EBA) has set its Environmental, Social, and Governance (ESG) Pillar 3 disclosure rules in motion. A recent article from Wolters Kluwer takes a deep dive into the latest requirements.

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EBA releases the technical package for phase 2 of its 3.3 reporting framework

The European Banking Authority (EBA) published the technical package for phase 2 of version 3.3 of its reporting framework. The technical package provides standard specifications and includes the validation rules, the Data Point Model (DPM) and the XBRL taxonomies for this phase of version 3.3.

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Accountancy Europe supports advances towards robust sustainability reporting standards

Accountancy Europe has expressed its support for the European Sustainability Reporting Standards (ESRS) as a critical tool in promoting relevant and verifiable information for sustainable business models.

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ESMA identifies areas for improvement in disclosures under MiFID

The European Securities and Markets Authority (ESMA) has found that disclosures of costs and charges under MiFID II do not always meet the quality levels required. The findings of its 2022 Common Supervisory Action (CSA) and mystery shopping exercise showed that most firms demonstrate compliance with the ex-post cost and charges requirements.

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EBA publishes final amending ITS on supervisory disclosures under CRD

The European Banking Authority (EBA) has released its final draft of amending Implementing Technical Standards (ITS) on supervisory disclosures. These standards define the format, structure, contents list, and annual publication date for the disclosure of supervisory information by competent authorities.

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ESMA publishes new data strategy

The European Securities and Markets Authority (ESMA) has unveiled its new Data Strategy for 2023-2028. This strategy aims to optimise data reporting processes, promote collaboration, and ensure the effective use of data in financial markets.

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EU amends ESRS, seeks to align, reduce reporting burden

The European Commission has now published, for a four week consultation period, a set of revisions to the European Sustainability Reporting Standards (ESRSs).

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ECB, EBA work towards more integrated reporting

The Eurofiling conference reconvened at the ECB’s HQ this week, with proceedings kicked off by Ms Silke Stapel-Weber, the Director General for Statistics at the European Central Bank. Ms Stapel-Weber announced that the next step of the Integrated Reporting Framework (IReF) has been approved by the ECB’s governing council.

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