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Items tagged with "Europe"

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ESMA publishes ESEF Conformance Suite

This week the European Securities and Markets Authority (ESMA) published a European Single Electronic Filing (ESEF) conformance suite to facilitate implementation of the regulations that came into effect at the start of this year. The Conformance Suite is aimed at XBRL software developers and is designed to test whether Inline XBRL software can create and […]

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Non-Financial Reporting in the EU: Changes Ahead? 

The EU Commission recently announced an ambitious review of the Non-Financial Reporting Directive – which will include work on non-financial reporting standards. Taking into account the host of measures and expectations set out in European Commission Executive Vice-President Valdis Dombrovskis’s speech, it is likely that companies in the European Union should expect major changes in the […]

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EBA issues updated Validation Rules

The European Banking Authority (EBA) has published a revised list of validation rules in its Implementing Technical Standards (ITS) on supervisory reporting. Rules that have been deactivated either for incorrectness or for triggering IT problems have been highlighted. The EBA notes that data submitted in accordance with these ITSs should not be formally validated against […]

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EBA considers Data Management in Resolution Evaluation

The European Banking Authority (EBA) have published a guide highlighting the importance of assessing data management when evaluating an entity for resolution. In a year when Europe’s Single Resolution Board (SRB) has shifted to full XBRL reporting, the importance of high quality data in this area is increasingly evident. The SRB collects huge amounts of data […]

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Europe Needs a Way to Discover Corporate Reports

This week we are pleased to feature a guest post from Mohini Singh, Director, Financial Reporting Policy at CFA Institute. In her post she highlights the “missing piece” in the digitisation of reporting in the EU: the need for a single way to discover reports.  As things stand, while digital reporting in Inline XBRL is […]

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EBA Consults on Reporting Requirements for Market Risk

This week the European Banking Authority (EBA) launched a public consultation on specific supervisory reporting requirements for market risk. These reporting requirements form the first part of the Fundamental Review of the Trading Book (FRTB) introduced by the revised Capital Requirements Regulation (CRR2) in the prudential framework of the EU. This consultation paper includes proposals […]

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EBA Calls on EC to Boost Cross-Border Finance

The European Banking Authority (EBA) have published a report calling on the European Commission to improve conditions for cross-border banking and payments services within the EU. The report identifies two main impediments to cross-border banking and payments reaching their full potential in Europe. Firstly, clearer communications are needed to better identify when a digital activity […]

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EBA Risk Report Shows Stability but Low Profits

Good news from the European Banking Authority (EBA) this week as their periodic risk assessment of the EU banking sector shows stable capital ratios and improving asset quality. The Risk Dashboard’s second quarter update, which summarises the main risks and vulnerabilities in the EU banking sector, shows steady improvement despite the challenges of low profits […]

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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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Big Data Could Warn of Company Distress

The Danish Business Authority, one of Early Warning Europe’s 15 partners has developed a machine learning tool that uses publicly available accounting data to identify companies in financial distress.

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