“In a world that runs on data, good quality data is also the essential ingredient to effective risk analysis,” says Verena Ross, Chair of the European Securities and Markets Authority (ESMA) – and we would certainly agree.
Last year, the International Monetary Fund (IMF) and the Financial Stability Board (FSB) outlined the need for a new initiative to continue the work of addressing data gaps, following the end of the G20 Data Gaps Initiative (DGI).
The Australian Prudential Regulation Authority (APRA) has launched a consultation on plans to “sharply expand the breadth and granularity of the superannuation data it publishes” – ‘superannuation’ being Australian lingo for compulsory employee pensions.
From 1 March 2022, all Global Legal Entity Identifier Foundation (GLEIF) services will accept and display data in updated Common Data File (CDF) formats, requiring users to implement these file formats by that date for uninterrupted access to LEI data.
The evolving use of data in anti-money laundering and countering the financing of terrorism (AML/CFT), and the potential synergies with prudential information and regulations, looks like an interesting area to watch – and that’s particularly true in Europe at the moment.
Are you following the long-term initiative to transform data collection from the UK financial sector being led by the Bank of England and the Financial Conduct Authority (FCA)?
Some interesting research recently published by the Bank for International Settlements (BIS) shines a light on the value of transparency efforts and of making data available.
The People’s Bank of China (PBOC) has released its Fintech Development Plan for 2022-2025, which seeks to guide the development of fintech and the digital transformation of finance.
A new XBRL US case study examines how Liberty Mutual Surety has used XBRL to automate the generation of normalised data in the format the company needs, freeing employee time for higher value work.
The European Banking Authority (EBA) has published its annual risk assessment of the European banking system for 2021.
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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.
