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In our news story posted 7 September we reported that the European Parliament, the Council and the European Commission reached a political consensus on the creation of new financial supervisory framework for Europe.
Deloitte Hungary has published IFRS zsebkönyv 2010 — the Hungarian language translation of IFRSs in Your Pocket 2010. This 130-page publication includes all of the information in the English language edition.
The Services of the Internal Market and Services Directorate General of the European Commission are conducting a public consultation in order to gather stakeholders' views on ways to improve the disclosure by enterprises of non-financial information (e.g. social and environmental).
The Securities and Exchange Commission (SEC) and the Committee of European Securities Regulators (CESR) had a high-level meeting discussing regulatory reform efforts in the United States and European Union.
The European Commission is conducting a public consultation in order to gather stakeholders' views on country-by-country reporting by multinational companies. Country-by-country reporting is a concept that would require multinational companies to disclose financial information on their operations in third countries in their annual financial statements.
In October 2009, the Committee of European Securities Regulators (CESR) analysed the 2008 financial statements of 96 European listed banks and insurers to assess compliance with the disclosure requirements of IFRS 7 Financial Instruments: Disclosures.
The Committee of European Securities Regulators (CESR) has published its ninth batch of extracts from its confidential database of enforcement decisions taken by EU national enforcers of financial information.
Further to our previous story on the bank stress tests performed earlier this year, the Committee of European Banking Supervisors (CEBS) issued a to clarify the details of key criteria used in the disclosures of banks exposures to sovereign debt.
The Committee of European Securities Regulators (CESR) has published a report on trends risks, and vulnerabilities that are directly relevant to securities markets regulators. Over the last decades, financial markets have been transformed by the rapid development of new financial instruments, the rise of new categories of key market participants, and a supportive technological environment. More recently, fundamental areas of the financial sectors have experienced a severe crisis. Going forward, CESR would like to contribute more to the understanding of these trends and risks and communicate its insights to the general public through regular reports.
On 16 July 2010, the members of the Committee of European Securities Regulators (CESR) elected Carlos Tavares, Chairman of the Comissão do Mercado de Valores Mobiliários at the CMVM, as Chair of CESR and Jean Guill, Director General of the Commission de surveillance du secteur financier (CSSF), as Vice Chair of CESR.
The Committee of European Securities Regulators (CESR) has published its eighth batch of extracts from its confidential database of enforcement decisions taken by EU national enforcers of financial information.
On June 23, 2010 Fernando Restoy, Chairman of the standing committee on corporate reporting of the Committee of European Securities
Regulators (CESR-FIN) and Vice-Chairman of the Spanish stock exchange regulator (Comision Nacional del Mercado de Valores, CNMV), spoke
at a conference hosted by the IFRS Foundation in London.
The European Union has published the Commission Regulation (EC) No 574/2010 (Amendment to IFRS 1 Limited Exemption from Comparative IFRS 7 Disclosure for First-time Adopters and Amendment to IFRS 7 Financial Instruments: Disclosures) endorsing the amendments adopted by the IASB on 29 January 2010.
The Committee of European Banking Supervisors (CEBS) has published Assessment of banks' transparencyin their 2009 audited annual reports and Follow-up review of banks' transparency in their 2009 Pillar 3 reports.
In its press release, CEBS states that "This work reflects CEBS's ongoing interest in the banks' disclosure of the impact of the crisis on their activities and financial situation."
In November 2009, the European Commission launched a Consultation to gain an understanding of EU stakeholders' view on the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs).
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