Ez-XBRL Solutions

EU Supervisory Authorities Publish Final Report on European Single Access Point (ESAP) Standards The European Supervisory Authorities (EBA, EIOPA, and ESMA) released the Final Report on technical standards for the European Single Access Point (ESAP). These standards define requirements for collection bodies and platform functionalities, marking a significant step towards a centralized system for financial and sustainability data. Under the ESAP system, collection bodies—such as national authorities and EU agencies—will gather information and provide it to ESAP, ensuring streamlined access for users. The standards outline submission formats, validation checks, and public API access requirements. ESAP is expected to begin data collection in July 2026, with full publication starting by July 2027. The report has been submitted to the European Commission for final adoption. #ESAP #EuropeanUnion #FinancialRegulation #SustainabilityData #CapitalMarkets #EBA #EIOPA #ESMA #FinancialTransparency #InvestEU #DataAccess https://lnkd.in/gq8GgzUE

Wave of Lawsuits Challenges SEC Rules Under Gensler’s Leadership U.S. industry groups and conservative organizations are pursuing numerous lawsuits against rules enacted under SEC Chair Gary Gensler, potentially reshaping the SEC’s regulatory agenda. Key contested rules include: Nasdaq Board Diversity: The Alliance for Fair Board Recruitment is challenging the SEC’s approval of Nasdaq’s diversity rule in the Fifth Circuit, causing delays to a similar SEC rule. Proxy Voting: The SEC prevailed in the Sixth Circuit, which upheld the agency’s repeal of Trump-era proxy voting regulations against a challenge from the U.S. Chamber of Commerce. Share Buybacks: In late 2023, the Fifth Circuit voided a rule mandating companies to disclose share repurchase data, finding the SEC did not justify the costs. Private Fund Disclosures: The Fifth Circuit struck down an SEC rule requiring more disclosures from private funds, ruling that the SEC exceeded its authority. Short-Sale and Securities Loan Reporting: The Managed Funds Association (MFA) is challenging SEC requirements for transparency in short-selling and securities lending in the Fifth Circuit. Climate Disclosures: Industry groups and GOP-led states have taken the SEC’s climate disclosure rule to the Eighth Circuit, halting the rule pending court decisions. Future Proposals: Additional SEC proposals on issues such as AI, cybersecurity, and human capital management face opposition and legal hurdles, with critics claiming overreach. Supreme Court Rulings: Recent high court decisions, including SEC v. Jarkesy, restrict SEC powers, requiring jury trials in fraud cases and limiting rulemaking without explicit Congressional approval. As legal battles unfold, the future of Gensler’s agenda, especially on transparency and market oversight, remains uncertain. #SECLawsuits #RegulatoryOverhaul #CorporateGovernance #GaryGensler #FinancialRegulations #ClimateDisclosure #BoardDiversity #PrivateFunds #ProxyVoting #MarketTransparency https://lnkd.in/gZ4u7iqR

XBRL Adoption Around the World: How are different regions embracing XBRL to improve financial reporting? Our latest blog explores: Key differences in XBRL implementation across regions How global standards are shaping financial transparency Insights for companies navigating cross-border compliance Gain a global perspective on how XBRL is transforming financial reporting worldwide! #XBRL #GlobalFinance #FinancialReporting #BusinessIntelligence #DataStandards #Compliance #DigitalTransformation #FinancialTransparency #AccountingTech https://lnkd.in/gWBpJZPq

ESMA Releases Quarterly Liquidity Assessment and Systematic Internaliser Data Update The European Securities and Markets Authority (ESMA), the EU's financial markets regulator, has published its latest quarterly liquidity assessment for bonds and updated data for systematic internaliser (SI) calculations under MiFID II and MiFIR. This update includes insights on equity, bond, and other non-equity instruments. For this period, ESMA has identified 1,233 bonds classified as liquid, meaning they meet transparency standards required for EU trading. These liquidity assessments are updated quarterly based on metrics like daily trading activity and are reflected in the Financial Instruments Transparency System (FITRS). Bonds deemed liquid today will adhere to these transparency requirements from 18 November 2024 to 16 February 2025. In addition, ESMA has published data on SI calculations covering trade volumes from 1 April to 30 September 2024, which includes 25,819 equity instruments, 146,127 bonds, and 6,214 derivative subclasses. Investment firms must perform SI evaluations by 15 November 2024. The complete data is available via FITRS, with XML files released on 31 October 2024. #ESMAUpdate #FinancialRegulation #MarketLiquidity #MiFIDII #MiFIR #BondMarket #SystematicInternaliser #EUFinance #MarketTransparency #InvestmentFirms #TradingData #FinancialMarkets https://lnkd.in/g4f-yFmj

Happy Diwali from all of us at Ez-XBRL May the festival of lights brighten the path to precise, impactful reporting and bring success, joy, and clarity to all. Wishing you a season filled with prosperity and celebration! #HappyDiwali #FestivalOfLights #EzXBRL #ClarityInReporting

Enhance Your iXBRL Compliance with Ez-XBRL Solutions Since 2011, Ez-XBRL has been a trusted provider of iXBRL compliance solutions for UK businesses, enabling them to meet HMRC's rigorous filing standards efficiently and accurately. Visit us - https://lnkd.in/gK-QtAYZ Our Comprehensive Solutions Include: ✅ Integix - Cloud-Based iXBRL Platform An advanced authoring platform enabling seamless conversion and creation of iXBRL documents from Word, Excel, and PDF. Integix supports full disclosure management for HMRC-compliant filings. ✅ Managed iXBRL Services Leverage our expertise in UK GAAP, IFRS, and XBRL standards for fully managed conversion services. We ensure compliance with HMRC’s validation requirements through a structured and reliable process. ✅ XOR - The Leading XBRL Reviewing Portal XOR provides collaborative, online reviewing and validation of iXBRL documents. With a powerful set of features and support for the latest validation rules, XOR ensures accurate and compliant submissions to HMRC. Partner with Ez-XBRL for a streamlined and reliable iXBRL reporting process. Learn more about our tailored solutions. #XBRL #iXBRL #HMRCCompliance #FinancialReporting #Integix #XOR #CorporateGovernance #UKBusiness #CloudSolutions

Proposed Updates to the 2025 GAAP Employee Benefit Plan Taxonomy within the 2025 GAAP Financial Reporting Taxonomy The Financial Accounting Standards Board (FASB) has issued proposed updates to the 2025 U.S. Generally Accepted Accounting Principles (GAAP) Employee Benefit Plan (EBP) taxonomy. These improvements are part of the 2025 GAAP Financial Reporting Taxonomy and are accompanied by related release notes. The proposed changes aim to introduce technical and other conforming improvements to enhance the EBP taxonomy. The FASB has opened a public comment period on these proposals, which will close on November 18, 2024. Stakeholders, including filers, investors, analysts, software providers, and other interested parties, are encouraged by the SEC to participate in the review process. This feedback will be crucial to refining the taxonomy for improved creation and use of XBRL-structured financial statements. Comments should be submitted directly to the FASB during the designated period. This initiative is part of an ongoing effort to ensure accuracy and clarity in financial reporting under the 2025 GAAP standards. #FASB #GAAP #EBPTaxonomy #FinancialReporting #XBRL #AccountingStandards #EmployeeBenefitPlans #PublicComment #FinancialTransparency #SEC #2025Taxonomy #AccountingUpdates #InvestorRelations https://lnkd.in/gAK7iYeW

SEC Introduces New Rules to Enhance Risk Management and Resilience of Covered Clearing Agencies The SEC has adopted amendments and a new rule to strengthen the resilience and recovery planning of covered clearing agencies. The amendments set new requirements for intraday margin collection, mandating risk-based systems that monitor exposures and allow for intraday margin calls during elevated risks. They also require reliable inputs for risk-based margin models and contingency measures if inputs are unavailable or unreliable. The new rule outlines nine key elements for recovery and wind-down plans, covering planning, implementation, and testing. Compliance deadlines are set at 150 and 390 days after publication in the Federal Register. SEC Chair Gary Gensler emphasized that these changes will enhance market stability and investor protection. #SEC #MarketResilience #ClearingAgencies #RiskManagement #InvestorProtection #FinancialStability #IntradayMargin #RecoveryPlanning #RegulatoryUpdates #GaryGensler #MarketRegulation https://lnkd.in/eFQPB_np

US Introduces New Regulations to Prevent China, Russia, and Iran from Accessing Large-Scale American Data The U.S. Justice Department proposed new rules to restrict business transactions that risk exposing federal or bulk personal data to foreign adversaries like China, Russia, and Iran. The measures, based on President Biden’s executive order, aim to prevent these countries from accessing American financial, genomic, or health data for cyberattacks, espionage, or blackmail. The proposal specifies data limits, including bans on transferring human genomic data of over 100 individuals, personal data of over 10,000 people, or precise geolocation data of over 1,000 devices. It applies to countries of concern such as Venezuela, Cuba, and North Korea. The Justice Department will enforce these rules with civil and criminal penalties. #USJusticeDepartment #DataProtection #NationalSecurity #CyberSecurity #PrivacyLaws #BidenAdministration #ForeignAdversaries #DataPrivacy #TechRegulation #Geopolitics https://lnkd.in/gAN5YjWE

Trends in Financial Technology and SEC Oversight: Navigating the Future of Regulation Read here - https://lnkd.in/dhUq4TPj As financial technology continues to transform the industry, regulatory frameworks must evolve to keep pace. In this blog, we explore the latest developments in fintech and the SEC's approach to maintaining market integrity while fostering innovation. Gain insights into how the right balance between regulation and progress can shape the future of finance. #Fintech #SEC #FinancialRegulation #Innovation #FutureOfFinance #MarketInsights