Tuesday December 19 2017
News Source: Global Exchanges
Focus: Other
Type: General
Country: European Union
On 18th December 2017, the European Securities and Markets Authority (ESMA) published the final draft Regulatory Technical Standards (RTS) setting out the new European Single Electronic Format (ESEF).
Starting from 2020, this format shall be used by all issuers to prepare their annual financial reports. The new format will advance the digitalisaiton of financial reports and will make financial reports machine-readable.
ESMA has also published a reporting manual and detailed instructions to issuers to facilitate the implementation of the RTS.
The publication of the RTS is accompanied by the launch of a new webpage on the ESEF.
It is expected that the ESEF will pave the way for further EU wide initiatives which make company data more comparable, transparent and digitally accessible
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