The European Securities and Markets Authority (ESMA) today launches its public consultation on its regulatory technical standards on the European Single Electronic Format (ESEF).
The amended Transparency Directive requires issuers listed on regulated markets to prepare their annual financial reports (AFR) in an ESEF from 1 January 2020, with the objectives of making submission easier for issuers and facilitating accessibility, analysis and comparability for investors and regulators. This consultation paper includes an assessment of current electronic reporting and explores ways forward with regard to the establishment of an ESEF.
In particular, ESMA seeks views on its preliminary cost-benefit analysis (CBA) and the proposals that the AFR should be published in PDF format with, in addition, IFRS consolidated financial statements reported as structured electronic data in XBRL or iXBRL.
