XBRL regulatory reporting to the Securities Commission of Spain José M. Alonso Comisión Nacional del Mercado de Valores (CNMV)

Investors Data Vendors Other Government Entities CII Management Firms Official Registers & internal Applications Website Publications CD-ROM FTP Issuers Markets Broker- Dealers & Brokers Settlement Entities& CSD Collective Investment Schemes Financial Reporting Supply Chain

Supervised entities can submit documents to the CNMV: On paper or CD-ROM Documents submission to the CNMV By electronic means using an e-administration service called CNMV on-line The CNMV on-line allows its users to send documents (several types of files are admitted) to the CNMV from any computer connected to the Internet. The files are previously encrypted and electronically signed by the user with a software application (CIFRADOC) provided by the CNMV free of cost. The encrypted files are attached to an addressed to a specific CNMV’s mail-box. The documents submitted by this means are as valid as the paper documents presented at the CNMV offices. More than 1,100 entities are currently using this service

Issuers supervision Listed Companies Official Registers & internal Applications 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  OPV & OPA prospectuses  Placement information  Securitization information

XML Semi- annual Report Creation template The encrypted XML file was sent by e- mail to the CNMV Signature validation and File decryption Data extracted from the report and incorporated to CNMV’s data- bases Listed companies XML The XML file was encrypted and electronically signed with CIFRADOC INTERNET IPP reporting to the CNMV (before 1/7/05) Quarterly Report creation template

The IPP Taxonomy facilitates the listed companies’ regulatory reporting of Public Periodic Information to the CNMV, to fulfill the requirements of the CNMV’s official letter published in January 2005 Four different models of report, depending on the type of entity, can be prepared with the IPP Taxonomy. -Insurance Companies -Credit institutions -Portfolio Management Companies -General (Utilities, Telecommunications, transportation,..) 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 IPP Taxonomy

Issuer identification Changes in the consolidated economic group Basis for presentation and valuation policies Balance Sheet Profit and Loss statement Comparative Consolidated Balance Sheet Business Development Breakdown of the net turnover by activity Number of employees Issues, Reimbursements and Cancellations of debentures Dividends distributed Structure of the IPP reports Explanatory appendix relating to Significant events Special Audit report Significant events Operations with linked parties COMMON DATA ELEMENTS INSURANCE CO CREDIT INSTITUTIONS PORTFOLIO MANAGEMENT CO GENERAL

IPP-SOC-IND IPP-COMUN import IPP-SEG-IND IPP-ENC-IND import Import IPP-GEN-IND IPP-GEN-CON IPP-MAS-PAT IPP-SEG-CON IPP-SOC-CON IPP-ENC-CON IPP-GEN Common concepts per type of entity IPP-SEG IPP-SOC IPP-ENC import Common concepts to all type of reports Specific concepts import DGI IFRS-GP ES-BE-SF import IPP Taxonomy

XBRL IPP Taxonomy Instance creation template (EXCEL) provided by the CNMV XBRL file is validated against the IPP taxonomy Information reported is incorporated to the CNMV’ databases Soft XBRL Current IPP reporting to the CNMV Listed companies The encrypted XBRL file is sent by to the CNMV The XBRL file is encrypted and electronically signed with CIFRADOC INTERNET XBRL files are published at the CNMV's website Signature validation and File decryption

IPP Template SMTP Interface Access channels CIFRADOC / Decrypt and sign checking XBRL processor Instance validation Storage Publishing of a significant event and updating of several web pages Internal application XBRL reports System architecture Internal application... Data extracted from instance and loaded to databases Publishing of reportsAlerts Soft XBRL

Features One single template to prepare all models of report Storage of an unfinished report in a temporary file Printout of the report in the official form (CNMV Official letter 1/2005) IPP Template

XBRL, a working reality at the CNMV: - More than 9000 instances received at the CNMV and published on the website, submitted by 441 entities. Next step - In 2007 a new version of the IPP taxonomy to adapt the taxonomy to upcoming changes in regulation. - A new taxonomy to be used by the CII management firms to file with the CNMV the quarterly report that they provide to the mutual funds shareholders.

Possibility of using XBRL in the European regulatory reporting (1) Two EU Directives, TD (Transparency Directive) and MiFID (Markets in Financial Instruments Directive), to be implemented in 2007 contain requirements of reporting: TD: Requires each EU country to have at least one Officially Appointed Mechanism to store regulated information (major holdings, significant events, financial statements…) on the issuers with securities admitted to trading on a regulated market. This information must be accessible to all European investors. Investors OAM XBRL Issuers

Possibility of using XBRL in the European regulatory reporting (2) MiFID: Article 25 requires investment firms, markets and trading venues in general, which execute transactions in financial instruments admitted to trading on regulated markets to report details of such transactions to the appropriate Competent Authority (regulator) for the firm. The Competent Authorities shall establish the necessary arrangements in order to ensure that the Competent Authority of the most relevant market in terms of liquidity for those financial instruments also receives this information. CA in terms of liquidity Local CA XBRL Trading venues