The US Securities and Exchange Commission (SEC) is consulting on a new rule designed to strengthen the transparency and efficiency of the securities lending market.
A new pilot programme in Flint, Michigan will explore how the use of XBRL can improve transparency in fiscal reporting and lead to better governance, potentially averting crises in municipal finance.
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) has launched 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.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
