UK | XBRL

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Could Open Finance Transform Industry? Call for Input

Open banking has had an undeniably significant effect on the banking industry, with a wide range of faster, more convenient choices now competing for customer attention. Could extending the principles of open banking – the (optional) sharing of bank data with third parties – to other financial products further transform financial services? The UK’s Financial Conduct […]

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PRATaxonomyUK

PRA Publish BoE Taxonomy Version 3.3.0

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The UK’s Prudential Regulation Authority (PRA) have published version 3.3.0 of the Bank of England Banking (BoE) XBRL Taxonomy, release notes, data point model dictionary, annotated templates and validation rules. Updates have been made to support the collection of Capital+ and Ring-fencing reporting. See here for more information and the taxonomy update release note.

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PRARegulationSolvency IIUK

PRA Publish Solvency II Supervisory Approach

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On 14 November, the UK’s Prudential Regulation Authority (PRA) published a public disclosure of Solvency II related regulations, the PRA’s supervisory approach and supervisory disclosures applicable to the year-end 2018. These are regulations primarily relevant to PRA authorised insurance companies and other insurance regulators. Designed to foster transparency and accountability between supervisory authorities, the extensive […]

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ESGFRCInvestorReportingSustainabilityUK

Climate Reporting Falls Short of Investor Expectations

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A new UK Financial Reporting Council (FRC) report indicates that companies are falling short of investor expectations for quality, granular climate-related reporting. As we heard from SASB at Data Amplified, demand for climate-related reporting is growing. However, for reporting to be useful for investors, it needs to be clear and comparable. The FRC report provides practical guidance to […]

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AIBankingFinanceMachine LearningUK

Machine Learning on the Rise in Financial Services

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A Bank of England (BoE) report has found that the use of machine learning (ML) is on the rise in financial services. The report is based on a joint survey from BoE and the Financial Conduct Authority in 2019 of 106 firms. The UK economy is increasingly powered by big data, with financial services in particular […]

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AIBankingDataMachine LearningUK

Predicting UK Bank Distress with Machine Learning

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The UK’s Prudential Regulation Authority (PRA) is working on machine learning techniques to predict bank distress. Using novel data sources, mainly confidential regulatory returns, this still experimental early warning system for predicting bank distress significantly outperformed other models. This development follows the Danish Business Authority’s machine learning-based Early Warning Europe, which uses large data sets from five European countries […]

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ESEFFCAReportingUK

Will the UK Adopt ESEF?

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With their impending exit from the European Union, will the UK adopt the European Single Electronic Format (ESEF) that becomes mandatory across the EU in January 2020? The Financial Conduct Authority (FCA) have released an update indicating that they are preparing to adopt ESEF in a scenario where the UK remains subject to EU law […]

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FRC Investigate Cash Flow Disclosures

By Editor

The UK’s Financial Reporting Council (FRC) have published a report examining how effective disclosures of cash flow in annual reports are for investor needs. Investors need information on the generation, availability and use of cash as part of their assessment and analysis – but do current cash flow statements provide enough information? The FRC’s report […]

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PRAReportingUK

UK Update Regulatory Report Guidelines

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The UK’s Prudential Regulation Authority (PRA) have issued a supervisory statement updating their guidelines for completing regulatory reports. The guidelines have been updated over the summer following the adoption of the European Banking Authority Taxonomy 2.9, and again in September following the revision of the branch return for international banks. Changes to the branch return […]

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CFRFSustainabilityUK

UK Tackles Climate Risk with Forum

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Earlier this year the UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) announced the launch of the Climate Financial Risk Forum (CFRF), holding their second meeting in July 2019. The CFRF aims to tackle climate-change related financial risks with practical tools and strategic approaches. It brings together senior representatives from the financial sector to […]

UK

Items tagged with "UK"

Could Open Finance Transform Industry? Call for Input

PRA Publish BoE Taxonomy Version 3.3.0

PRA Publish Solvency II Supervisory Approach

Climate Reporting Falls Short of Investor Expectations

Machine Learning on the Rise in Financial Services

Predicting UK Bank Distress with Machine Learning

Will the UK Adopt ESEF?

FRC Investigate Cash Flow Disclosures

UK Update Regulatory Report Guidelines

UK Tackles Climate Risk with Forum

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UK

Items tagged with "UK"

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