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

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Presentation on theme: "Business Registries, Capital Markets & Banking Use of XBRL in Financial Markets Supervision in Spain José M. Alonso - COMISION NACIONAL DEL MERCADO DE."— Presentation transcript:

1 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

2 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

3 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

4 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

5 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

6 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.

7 IPP Taxonomy

8 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

9 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

10 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

11 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.

12 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

13 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

14 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

15 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.

16 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

17 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

18 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

19 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)

20 Access to the XBRL section

21 Thank you Jose M. Alonso


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