The International Organization of Securities Commissions (IOSCO) has published a comprehensive report with observations and recommendations relating to environmental, social and governance (ESG) ratings and data product providers.
XBRL US has written in response to the US Environmental Protection Agency (EPA) Strategic Plan 2022-2026, focussing on how structured, digital data could contribute to the EPA’s key principle of transparency.
We are very pleased to report that the US House of Representatives has passed the Financial Transparency Act (FTA) by 400-19.
Another potential application of XBRL in the US took a step towards reality on 24 September, when President Biden signed the Congressional Budget Justification Transparency Act of 2021 into law.
The European Banking Authority (EBA) launched today its annual transparency exercise, as announced in March. As the EBA observes, this is based entirely on supervisory reporting data – powered by XBRL – so the additional burden on banks is minimal.
Gary Gensler, the Chair of the US Securities and Exchange Commission, gave testimony this week before the United States Senate Committee on Banking, Housing, and Urban Affairs.
“The independence of supervisory authorities is crucial for the legitimacy and credibility of the supervisory process,” says the European Insurance and Occupational Pensions Authority (EIOPA) – but how can we decide whether authorities are in fact free from conflicts of interest and undue external influence on supervisory decisions?
The balance between business confidentiality and transparency in reporting is a constantly disputed and ever-changing one. With that in mind, we are interested to note a recent announcement by the Australian Prudential Regulation Authority (APRA), affirming that it will publish entity-level data on authorised deposit-taking institutions – or in other words, banks.
In May 2021, the Financial Transparency Act (FTA) was reintroduced to the 117th United States Congress. This bill, if passed, would direct all eight major US financial regulatory agencies to implement consistent data standards for the information they collect from filers under existing securities, commodities and banking laws.
The European Banking Authority (EBA) has affirmed that its EU-wide 2021 transparency exercise will be carried out in autumn, with the launch planned for September. This annual exercise is part of the EBA’s endeavours to foster transparency and market discipline.