EC published the EU Delegated Regulation 2019/2100, which amends the EU Regulation 2019/815, with regard to updates on the taxonomy to be used for the single electronic reporting format in EU. Regulation 2019/2100 shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply to annual financial reports containing financial statements for financial years beginning on or after January 01, 2020.
Regulation 2019/815, which the published Delegated Regulation amends, specifies the single electronic reporting format to be used for the preparation of annual financial reports by issuers. The core taxonomy to be used for the single electronic reporting format is based on the IFRS taxonomy and is an extension of this IFRS taxonomy. The IFRS Foundation annually updates the IFRS taxonomy to reflect, among other developments, the issuance of new or the amendment of existing IFRS, the analysis of disclosures commonly reported in practice, or improvements to general content or technology of the IFRS taxonomy. Therefore, an update to the regulatory technical standards is necessary to reflect the relevant changes in the IFRS taxonomy. Therefore, the Delegated Regulation 2019/815 is being amended by the Regulation 2019/2100. In specific, Annexes I, II, and VI of Regulation 2019/815 are being modified in accordance with the Annexes I, II, and III of the Regulation 2019/2100, respectively.
Effective Date: January 05, 2020
Keywords: Europe, EU, Banking, Insurance, Securities, Reporting, Regulation 2019/815, IFRS Taxonomy, ESEF, Taxonomy, Regulation 2019/2100, ESEF, EC
Previous ArticleBCBS Launches First Consolidated Version of Basel Framework
A Consultative Group on Risk Management (CGRM) at the Bank for International Settlements (BIS) published a report that examines incorporation of climate risks into the international reserve management framework.
The European Banking Authority (EBA) published a report that examines the use of certain exemptions included in the large exposures regime under the Capital Requirements Regulation (CRR).
The Bank of England (BoE) issued a communication to firms to provide an update on the progress of the joint data transformation program—which is being led by BoE, the Financial Conduct Authority (FCA), and the industry—for the financial sector in UK.
The European Banking Authority (EBA) published the draft methodology, templates, and template guidance for the European Union-wide stress test in 2023.
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) jointly published the final guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP) for investment firms.
The Prudential Regulatory Authority (PRA) proposed expectations, via CP8/22, in respect of changes to the instruments or claims that comprise unvested deferred sums awarded to material risk-takers as part of their variable pay.
The European Insurance and Occupational Pensions Authority (EIOPA) published Version 2.7.0 of the Solvency II data point model (DPM) and XBRL taxonomy.
The Office of the Superintendent of Financial Institutions (OSFI) updated the 2023 Basel Capital Adequacy Reporting (BCAR) manual as well as the 2023 BCAR return.
In a letter to the G20 Leaders, ahead of the July 2022 meeting, the Financial Stability Board (FSB) Chair set out an overview of the key work done by FSB.
The Single Resolution Board (SRB) published its resolvability assessment and "heat map" for 2021, updated the operational guidance on implementation of bail-in tool, and issued the annual report for 2021.