Tucked away in the second half of a press release about Coronavirus published last Saturday, the EU opens the window for member states to delay application of the ESEF mandate by a year. Seeing how this option becomes available a week before the winter break when accounting politics grinds to a halt, we doubt (and hope!) that any country over and above the UK, which already has taken the liberty to bow out anyway, will follow suit now. Issuers will have made their preparations long ago in any case.
While the paper does not even mention our four letter acronym of choice, its reach within the novel regtech / suptech ideas and concepts discussed is pervasive. The need for more granular structured data to be delivered or shared through new channels inevitably will up the tech game at the authorities as well. Watch this space!
Going forward, we will include the occasional non-English language news item in this service because … well, we can. And so can you! Have you already tried the new web page translation feature with which you can translate pages in your browser with one click only? It’s available on Safari now and works really well – give it a shot!
Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.
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