Business Registries, Capital Markets & Banking Use of XBRL in Financial Markets Supervision in Spain José M. Alonso - COMISION NACIONAL DEL MERCADO DE.

Slides:



Advertisements
Similar presentations
Banking Supervision: Asia-Pacific, America and Europe Perspective Data of General Identification (GCD-like) Taxonomy a help for filling Iñaki Vázquez June.
Advertisements

1 Tools of the Trade, Part I The Balance Sheet: Initial Financing – Investments by Owners CHAPTER F3 © 2007 Pearson Custom Publishing.
An Introductory Overview CENTRAL DE VALORES NACIONAL, S.A. Guatemala.
What is mutual fund A Mutual Fund is a special type of investment institution which collects or pools the savings of the community and invests large funds.
Accounting: The Language
XBRL Jurisdiction in Spain XBRL regulatory reporting to the Securities Commission of Spain (CNMV) José-Manuel Alonso-Revilla Comisión Nacional.
Lecture 02. Overview of Lecture 01 Course outline Types of Businesses Types of Business Organizations Formation of Corporations What is MNC and Goals.
XBRL Around the World XBRL Around the World A look beyond U.S. shores to put the SEC’s interactive data initiative in a global context By Karen Kernan.
1 Paris – 22nd June, 2009 Sebastián Muriel President (XBRL Spain) General Manager (red.es) International Steering.
International Economics International Economics concerns the flow of commodities, services, and productive factors (capital and labor) across national.
Reducing the Reporting Burden in the Regulatory Environment XBRL Reports from SME’s to the Mercantile Registers Iñaki Vázquez June 25th 2009.
By Michael Lawrance, CPA August 13,  The views in this presentation do not necessarily reflect that of KPMG LLP or any of its subsidiaries or affiliates.
FINANCIAL SER V ICES MANAGEMENT
Regional Seminar on Developing a Program for the Implementation of the 2008 SNA and Supporting Statistics Murat EKŞİ September 2013 Ankara - Turkey.
The Experience of ASSAL with Insurance Statistics Based on Survey about Sources of Insurance Statistical Information Montevideo- September 2013.
McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. The Accounting Cycle: Reporting Financial Results Chapter 5.
XBRL regulatory reporting to the Securities Commission of Spain José M. Alonso Comisión Nacional del Mercado de Valores (CNMV)
Chapter 7 Federal Regulations and Financial Institutions Related to the Mortgage Market © OnCourse Learning.
An Overview of Banks and Their Services
XBRL Formula in use: Improving the quality of data Mark Montoya (FDIC) Víctor Morilla (Central Bank of Spain)
13th XBRL International Conference May 16-19, 2006, Madrid Luxembourg Stock Exchange Building an efficient gateway for international securities.
Taiwan Stock Exchange’s XBRL Project Li-Ning Chen Taiwan Stock Exchange 2009/06/24.
1 Public availability of financial statements of publicly traded and privately-held companies: The Canadian Case REPARIS Workshop on Accounting & Audit.
MEXICO´s INCENTIVES FOR REAL ESTATE INVESTMENT October 20, 2007 Course Number MUNOZ MANZO y BELAUNZARAN, S. C. SPEAKER ALEJO MUNOZ.
Michael Hysek Head of Banking Supervision Financial Market Authority (FMA) Annual Meeting of the EFBS Salzburg, 1 October The FMA and the Austrian.
SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT INTRODUCTION.
University of Palestine International Business And Finance Management Accounting For Financial Firms Part (3) Ibrahim Sammour.
Fair Value Accounting and the Minimum Capital Test September 21, 2006 Toronto Jane Voll, Vice-President and Chief Economist & Grant Kelly, Director, Policy.
17 Financial Statement Analysis Accounting 26e C H A P T E R Warren
Regulation U. S. “Public Companies” must register with the Securities & Exchange Commission (SEC).
THE USE OF ADMINISTRATIVE BANKING AND INSURANCE DATA 1 Presented by Hazel Corbin Statistics Adviser, ECCB Palm Haven Hotel Saint Lucia 3 to 7 February,
DEMATERIALIZED PROMISSORY NOTES. Main Statistics 2014 Participants: – 347 Issuers and 198 Depositors. Assets Under Custody – Value on deposit at December,
Financial System By-Arbin Shrestha. What is Financial System? System that allows the transfer of money between savers and investors and borrowers. “A.
1 Cross Border Financial Positions and Exposures Juan Pablo Graf Banco de México.
Transactions With Public Markets Accounting and tax considerations.
CHAPTER 1 AN OVERVIEW OF FINANCIAL MARKETS. FINANCIAL SYSTEM FINANCIAL MARKETS FINANCIAL INSTITUTIONS &INDIVIDUALS FINANCIAL INSTRUMENTS (SECURITIES)
AMEDA 1st Leadership Forum April 28, 2009 ADMINISTRATION OF MUTUAL FUNDS Midclear S.A.L. Fouad El Khoury Chairman – General Manager MIDCLEAR S.A.L.
Financial System The financial system in a country refers to the institutional framework existing to enable financial transactions to be carried out in.
Republic of Macedonia MINISTRY OF FINANCE SKOPJE DEPUTY MINISTER OF FINANCE DIMKO KOKAROSKI, Ph.D. The Conference on Accounting Reform and Institutional.
©CourseCollege.com 1 16 Long Term Debt Long term debt - liabilities with due dates greater than one year. Learning Objectives 1.Explain accounting for.
Undertakings for collective investment in transferable securities (UCITS) Worldbank Global Development Learning Network The Advanced Program in Accounting.
COMISION NACIONAL DEL MERCADO DE VALORES Extension in the use of XBRL to several areas of supervision in the Securities Commission of Spain Jose M. Alonso.
DOES INTEGRATED SUPERVISION WORK IN EMERGING MARKETS-THE CASE OF BOLIVIA-- PRESENTATION BY Pablo Gottret, Ph.D World Bank Senior Economist and Former Superintendent.
Cross Section of the Financial Sector Developments in Bosnia and Herzegovina Radomir Božić. Ph.D. Sarajevo. October Fifth SASE International Conference.
Financial Literacy FINAL VOCABULARY By: Zack Clary.
07 December 2010 FINANCIAL SECTOR CODE. 07 December 2010 Agenda  Where are we in the gazetting process?  Who does it apply to?  What has changed?
Finance SCOOP Indiana University September 16, 2003.
8th November th XBRL International Conference Combining standards: an example of European Central Banks using XBRL and IFRS to reduce the reporting.
Overview of the SEC Summer What is the SEC? Securities and Exchange Commission The mission of the U.S. Securities and Exchange Commission is to.
 Bessis (2002) posit that liquidity risk refers to three (3) multiple dimensions: inability to raise funds at normal cost; market liquidity risk and asset.
Brief overview of the European Central Bank (prospective) statistical requirements OECD WPFS meeting Paris, October 2008 MFS/08/203.1.
STATISTICS AND CENTRAL BALANCE SHEET DATA OFFICE DEPARTMENT INTEGRATION OF XBRL FOR THE COLLECTION OF STATISTICS: REDUCING THE REPORTING BURDEN ON MFI.
Principle of Accounting & Finance. What Is Accounting? A comprehensive system for collecting, analyzing and communicating financial information Users.
The securitisation process in Spain. Developments and practical issues Miguel Ángel Menéndez and Beatriz Sanz STATISTICS AND CENTRAL BALANCE SHEET DATA.
Ukraine (nr 46514): Expert Mission on Supervision of Investment Funds` Activities - TAIEX Off-site supervision of the investment funds industry in Poland.
Flow of Presentation  Balance of Payments (BOP) Survey  Q & A  Annual System of National Accounts (SNA) Survey  Q & A.
Ukraine (nr 46514): Expert Mission on Supervision of Investment Funds` Activities - TAIEX Accounting system of the polish investment funds Mirosław Jeżowski.
1 M O N T E N E G R O Negotiating Team for the Accession of Montenegro to the European Union Working Group for Chapter 9 – Financial Services Bilateral.
COLLECTIVE INVESTMENT SCHEMES AT THE CYPRUS STOCK EXCHANGE September
Presented By: Andrea Lewis- Jones. OUTLINE Background Key Aspects of the CIS Regulatory Framework Filing Requirements Publication Requirements New Publication.
M O N T E N E G R O Negotiating Team for the Accession of Montenegro to the European Union Working Group for Chapter 6 – Company Law Bilateral screening:
Non-Bank Financial Institutions Finance Companies, Insurance Companies, Pension Funds, Mutual Funds, and Real Estate Investment Trusts Chapter 5 Dr. BALAMURUGAN.
Public Expenditure Management Peer Assisted Learning Reports on Execution of the National Public Budget Kishinev, Moldova June 1-3, 2016.
Financial Management – Winter 2005 – 1 February to 3 March The accounting environment The rules of financial accounting:
IR NEWSLETTER Company Profile Key Facts Key Messages
Jumpstart Our Business Startups Act
Money & Banking SESSION 1 BANKING By Dr. Soha El Magawry.
Pamplona Credit Opportunities Fund
Legal Aspects of Finance
Presentation transcript:

Business Registries, Capital Markets & Banking Use of XBRL in Financial Markets Supervision in Spain José M. Alonso - COMISION NACIONAL DEL MERCADO DE VALORES ROMA, April 21,2010

Investors Data Vendors Other Government Entities CII Management Firms Official Registers & internal Application s Website Publications CD-ROM & DVD FTP Issuers Markets Investment firms Settlement Entities & CSD Collective Investment Schemes

Use of XBRL in Financial Markets Supervision in Spain Agenda: 1. XBRL in listed companies supervision 2. XBRL in the supervision of investment firms 3. XBRL in Collective investment vehicles supervision 4. XBRL in the supervision of Securitization Funds

Use of XBRL in Financial Markets Supervision in Spain Agenda: 1. XBRL in listed companies supervision 2. XBRL in the supervision of investment firms 3. XBRL in Collective investment vehicles supervision 4. XBRL in the supervision of Securitization Funds

Issuers supervision Listed Companies Official Registers & internal Application s ISSUER DATA  Audit reports  Significant corporate events  Major holdings notifications  Public Periodic Information (IPP) (Quarterly & semi-annual reports)  Treasury stock information  Annual Corporate Governance Report ISSUE DATA  Issuing prospectuses  Listing prospectuses  PO & TOB prospectuses  Placement information  Securitization information

IPP Taxonomy The IPP Taxonomy facilitates the listed companies ’ regulatory reporting of Public Periodic Information to the CNMV.  Version 1.0 (June 2005) used between July 2005 and June 2008 to fulfil the requirements of the CNMV ’ s official letter published in January 2005  Version 2.0 (current version) has been started to be used on July 1st, 2008 to prepare the three models of report (Credit Institutions, Insurance companies, General) required in the new CNMV’s official letter published that year. Each model of report covers data on the individual entity and on its consolidated group, when the reporting entity is part of an economic group. With regard to the reference period for the data, there are two types of reports: quarterly and semi-annual report.

IPP Taxonomy

Current status of IPP filing(*) 25,000 instances received at the CNMV and published on its website Submitted by 440 entities:  269 issuers of instruments listed on Spanish markets  179 Collective investment vehicles management firms that send the reports of almost 3000 investment institutions and... an average of more than 20,000 XBRL reports downloaded every month from the CNMV website (*) As of 31/3/2010

Use of XBRL in Financial Markets Supervision in Spain Agenda: 1. XBRL in listed companies supervision 2. XBRL in the supervision of investment firms 3. XBRL in Collective investment vehicles supervision 4. XBRL in the supervision of Securitization Funds

Investment firms supervision Firms providing investment services  Application for authorization & register  By-laws  Services and/or Activities  Shareholders & qualifying holdings  Management information  Branches data  Financial statements (Monthly, Quarterly & annual report)  Information on solvency  Transactions reporting Official Registers & internal Applications

ES-BE-COREP Taxonomy  The CNMV decided to accept filing on risk and solvency with the taxonomy already used by the Bank of Spain.  ES_BE COREP is a Taxonomy developed by the Bank of Spain based on the COREP taxonomy.  The use of the same taxonomy facilitates the reporting of firms that have to file with the two regulators.  Since July 1st, 2009, a total of 158 investment firms are obliged to send XBRL solvency reports to the CNMV.

Use of XBRL in Financial Markets Supervision in Spain Agenda: 1. XBRL in listed companies supervision 2. XBRL in the supervision of investment firms 3. XBRL in Collective investment vehicles supervision 4. XBRL in the supervision of Securitization Funds

Collective investment vehicles supervision Collective Investment Schemes  Application for authorization & register  By-laws  Fund prospectuses  Qualifying holdings  Corporate events  Monthly Financial statements  Quarterly reports to mutual fund shareholders Official Registers & internal Applications

IIC Taxonomy Taxonomy developed by the CNMV for preparing the quarterly, semi-annual and annual reports described in the annexes of the 4/2008 CNMV ’ s official letter published in October These reports are a copy of the ones the Fund Management Companies have to make available to unit holders. The entities obliged are: - Unit Trusts - Exchange Traded Funds - SICAVs - Real Estate Funds and Real Estate Investment Companies - Hedge Funds

IIC Taxonomy 165 fund managers have to send the quarterly reports of more than 6,000 Collective Investment Vehicles to the CNMV. More than 24,000 XBRL files per year.

Use of XBRL in Financial Markets Supervision in Spain Agenda: 1. XBRL in listed companies supervision 2. XBRL in the supervision of investment firms 3. XBRL in Collective investment vehicles supervision 4. XBRL in the supervision of Securitization Funds

Issuers supervision Listed Companies Official Registers & internal Application s ISSUER DATA  Audit reports  Significant corporate events  Major holdings notifications  Public Periodic Information (IPP) (Quarterly & semi-annual reports)  Treasury stock information  Annual Corporate Governance Report ISSUE DATA  Issuing prospectuses  Listing prospectuses  PO & TOB prospectuses  Placement information  Securitization information

XBRL in the supervision of Securitization Funds FTA Taxonomy Taxonomy developed by the CNMV to facilitate the accomplishment of the reporting obligations for securitization vehicles established by the CNMV in its 2/2009 CNMV ’ s official letter. For each of their funds, the securitization entity management companies have to submit to the regulator: - Annual and semi-annual financial statements (Balance sheet & Income statement) - Quarterly statistical reports with data on financial transactions and write-offs/write-downs on the assets and liabilities of the fund and details on the fund units or other financial instruments issued by the fund - Audit reports

FTA Taxonomy dgi-lc- es dgi-lc- int dgi-types fta- com fta-s00 fta-s06 s05_1 s05_2 s05_3 s05_4 s05_5 fta-com- est fta-t01 fta-t03 fta-t04 fta- st0 fta-s01 fta-tt0 fta-s05 fta- at0 fta-s04 fta-s02 fta-s03 dgi-est-gen fta-t02 fta- types Currently, every three months, eight fund management companies have to file with the CNMV the XBRL reports of more than 600 funds. (4,200 reports per year)

Access to the XBRL section

Thank you Jose M. Alonso