The European Single Electronic Format (ESEF) project, which requires EU listed companies to publish annual reports in Inline XBRL, has seen highly designed, “glossy” reports being prepared in the structured data format for the first time.
Earlier this autumn the US Securities and Exchange Commission (SEC) adopted a final rule designed to make it easier for investors and shareholders to access key information. Keen readers will remember the announcement, and this week leading law firm Kirkland & Ellis have published a new report summarising the requirements and results of the rule.
Further progress on transparency in sustainability reporting this week as Switzerland adopted an ordinance requiring mandatory, machine-readable climate disclosures based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
The Autorité des marchés financiers (AMF), France’s stock market regulator, has made what it calls “a very positive assessment at the end of the first year” of European Single Electronic Format (ESEF) implementation.
Measures to reform the UK business registrar Companies House have been introduced to Parliament in part two of the Economic Crime Bill. They are intended to improve the company information available and help prevent economic crime.
The US Securities and Exchange Commission (SEC) has adopted a final rule on tailored shareholder reports for those mutual funds and exchange-traded funds classed as ‘open-end funds.’
“For decades the SEC has sought to harness technology to provide a mechanism for allowing investors, Commission staff, data aggregators, financial analysts and other data users to efficiently analyze and compare the available information about variable contracts,” explains Guy Stanzione, Compliance Services Director at Toppan Merrill in a new post.
Revenue, Ireland’s tax and customs agency, requires financial statements to be submitted in Inline XBRL (iXBRL) as part of corporate tax returns.
As new block tagging requirements get closer for next year’s European Single Electronic Format (ESEF) reporting cycle, a post from Toppan Merrill offers concise compliance insights and best practices.
The FRC Lab reports on lessons learnt from the first year of mandatory digital reporting in the UK. It finds that many companies are rising to the challenge of the ESEF format, and points the way forward on more that needs to be done on data quality.