XBRL Europe has the pleasure to distribute a new document prepared by XBRL Europe and XBRL International for the European Securities Market Authority (ESMA) ESEF Task Force.

See the following link for a copy of this document, which answers ESMA concerns that are related to the implementation and the governance of the XBRL Standard.

You certainly remember that the European Securities Market Authority (ESMA) is in charge in the European Union of defining the European Single Electronic Format as expressed in the transparency directive for its adoption as of December 2016 and for the mandatory reporting of all the listed companies in the European Union as of January 2020.

See the presentation of the transparency directive on the following link

The text of the transparency directive mentions "ESMA should develop draft regulatory standards for adoption by the Commission, to specify the electronic reporting format, with due reference to current and future technological options, such as eXtensible Business Reporting Language (XBRL)".

In this respect ESMA has formed a Task Force named ESEF Task Force with whom we are in close contact. The ESEF Task force Chair was present in Rome during the XBRL Week at the Eurofiling workshop in order to present their progress.

In the last part of 2013 and the first part of 2014 a certain number of meetings between ESMA and our XBRL community have pushed ESMA to raise specific questions about XBRL which led to a 1st Q&A document from the XBRL Community.

Then ESMA raised in late May 2014 a new set of questions for which the XBRL community (XBRL International and XBRL Europe) has prepared a new Q&A document which has been approved by the XBRL Europe Executive Committee to be distributed to ESMA at the end of July 2014

The next steps for the ESMA ESEF Task Force is to gather the answers to a questionnaire distributed some days ago to some specific organizations and professional federations.

Best regards to all                                                                                                                                

Gilles Maguet

GSM: +33.(0)6.71.62.31.19

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XBRL Europe – Secretary General

BRUSSELS-LYON

Tél : +33 (0)4 72 41 05 22- Fax : + 33 (0)9 56 25 55 53

E-Mail :gilles.maguet@xbrl-eu.org– Web : www.xbrleurope.org

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