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If you are a listed company in the UK, you are most likely, aware of the EU Transparency Directive that requires companies with equity or debt listed on an EU-regulated market, to publish their consolidated annual financial reports (AFRs) each year.  In 2019, you were probably preparing to get your reports ready to be filed […]

The ESEF Regulation – What it is and what it aims to do The European Single Electronic Format, also known as the ESEF regulation, was introduced to facilitate access, analysis, and comparison of annual financial reports. By allowing greater transparency and bringing the financial reporting process up a notch, the ESEF regulation is aimed at […]

The EBA continually strives to update the reporting framework for improved consistency and quality of financial reports being submitted. In its efforts to do so, EBA has published a new reporting framework, updating the mapping of quantitative disclosure data and supervisory reporting. This framework is an update of reporting framework 2.10, which aims to foster […]

FCA Pushes Back Mandatory Requirements Related to ESEF by a Year The FCA (UK Financial Conduct Authority) has set back the mandatory requirements related to the ESEF (European Single Electronic Format) by one year. These ESEF initiatives were supposed to include:- ● Reporting requirements for preparation and filing of machine-readable financial statements. ● Electronic tagging […]

Even though there are several CRD IV reporting solutions available in the market, error-free CRD IV reporting is a major challenge for many organisations across the EU. Firms are facing stringent deadlines and plenitude requirements from the EBA (European Banking Authority), including new digital finance strategy, stricter rules in appointing directors, and much more. And […]

Solvency reporting can get very complicated very quickly. Especially amidst the Covid-19 pandemic, several concerns have been raised about insurance company solvency positions. It has been brought up to the notice of the European Insurance and Occupational Pensions Authority (EIOPA) that analysts have been focusing less on making public disclosures – this can be a […]

New Format Issued by ESMA for Annual Financial Reporting As part of the constant effort to improve transparency, ESMA has issued a new reporting format – ESEF (European Single Electronic Format), for all companies listed on the stock markets in the European Union. The primary reason for introducing a new format is to:- ● Increase […]

Considering the changing landscape, ESMA has taken the initiative to promote and build sustainable finance and long-term oriented markets. To achieve this goal, ESMA has introduced the brand new Work Programme 2021 to deal with the opportunities and risks posed by digitisation, ultimately strengthening the EU’s role in the global marketplace. Through the Work Programme […]

ESMA has transformed the way the investment fund sector is regulated with AIFMD reporting requirements every year for better transparency over six years now. ESMA has come with new requirements every year for the investment industry, and it had made a significance on all the fund houses to follow AIFMD requirements that evolved for the […]

The use of data is no longer limited to big corporations and data analytic companies. Most enterprises today use analytics in some capacity; it’s fair to say the process is widespread. Maintaining transparency in data reporting is equally essential. The European Securities and Markets Authority (ESMA), for instance, has gone through great lengths to ensure […]