FRC and FCA joint letter to CEOs on structured reporting
16 November 2021
Under the Disclosure Guidance and Transparency Rules, certain companies are required to start producing their 2021 annual financial reports in a structured electronic format. As a result, electronic data for thousands of companies will become available for automatic extraction, analysis and comparison. However, the data will only be useful if it is of high quality.
Therefore, the FCA and the FRC have jointly written to Chief Executive Officers of issuers in scope of the requirements to remind them of their obligations. The letter also sets out expectations on quality and identifies actions the FRC and FCA may take in the event of their expectations not being met.
The letter is available here.