SEC announced that the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system was upgraded to Release 19.2 and now supports the 2019 International Financial Reporting Standards (IFRS) taxonomy. The EDGAR system no longer supports the 2017 U.S. GAAP Financial Reporting Taxonomy, 2014 Document and Entity Information (DEI) Taxonomy, 2017 Exchanges (EXCH) Taxonomy, and 2016 Currencies (Currency) Taxonomy.
The 2019 IFRS taxonomy reflects the same taxonomy that the IASB made available on its website on March 27, 2019. SEC encourages companies to use the most recent version of taxonomy releases for their XBRL exhibits to take advantage of the most up-to-date tags related to new accounting standards and other improvements. On March 11, 2019, the EDGAR system was upgraded in Release 19.1 and now supports the 2019 U.S. GAAP, 2019 SEC Reporting, 2019 Currency, and 2019 EXCH taxonomies. The EDGAR system was also upgraded in Release 19.2 to support 2019 Document and Entity Information (DEI) taxonomy as a result of the SEC adopting amendments to modernize and simplify certain disclosure requirements in Regulation S-K. One of the amendments requires the information on the cover pages of Forms 10-K, 10-Q, 8-K, 20-F, and 40-F to be tagged in Inline XBRL, in accordance with the EDGAR Filer Manual.
Keywords: Americas, US, Banking, Securities, Accounting, EDGAR 19.2, XBRL, US GAAP, Taxonomy, DEI Taxonomy, Reporting, IFRS, FASB, SEC
PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).
EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.
EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.
EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.
PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.
MAS published a statement guidance on dividend distribution by banks.
APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.
FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.
EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.
SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.