The UK’s Prudential Regulation Authority (PRA) has issued an updated version of its ‘Guidelines for completing regulatory reports’, taking effect from 29 December 2020. Its supervisory statement now includes a new chapter on third-country branch reporting.
The UK’s Department for Business, Energy & Industrial Strategy (BEIS) has launched a consultation on an upcoming major overhaul of Companies House rules designed to improve the quality and value of financial data.
The EU’s ESEF mandate includes a requirement for the assurance of ESEF-compliant disclosures – but how that will work in practice is dependent on the interpretation of local jurisdictions.
A recent paper by Mike Power, professor of accounting at London School of Economics (LSE), argues that the UK needs to address fundamental weaknesses within its financial reporting system.
The UK’s Financial Conduct Authority (FCA) is set to replace the old Gabriel reporting system with RegData, a new, more efficient data collection platform central to its data strategy.
The Bank of England (BoE) recently published a proposal to shift the submission of a range of statistical data into XBRL format.
Fintech promises to revolutionise the financial sector, with efficiency, choice, and financial inclusion on the horizon. However, disruptive growth in finance needs to be supervised and regulated so risks are properly managed. That’s where regulatory sandboxes come in – they allow start-ups to trial innovations under the watchful eye of authorities.
After the 2008 financial crisis, governments around the world took steps to make it easier to resolve failing banks. In the UK, those steps included setting up the Resolvability Assessment Framework (RAF), which launched in 2019.
This week has seen a flurry of new developments in the UK’s sustainability reporting space, taking the country another step closer to the useful, comparable, environmental data investors and regulators need.
With unusual extra pressures stemming from the Covid-19 crisis, the UK’s Financial Conduct Authority has announced a one-year delay to the introduction of mandatory ESEF requirements in the UK.
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