EU reporting format changes require reference group, says Swedish regulator

The Swedish Financial Supervisory Authority (Finansinspektionen) has called a meeting for 3 September to put together a reference group of industry participants to test new reporting formats and systems before they are introduced in 2013-14.

The changes come in response to the implementation of harmonised reporting rules across the EU, FI said.

The regulator began its work developing systems to handle periodic reporting, including the new layout and functionality requirements, in 2009 but is not expected to finish this work ahead of the first quarter of 2013. It now requires a heterogeneous group of businesses from the financial services industry to start testing the systems ahead of their introduction.

The last day for companies to register their interest in taking part in the meeting is 20 August.

FI added that it is planning a separate meeting during the autumn to discuss in more detail the contents required under the new reporting regime. This will include access to the regulator’s internal experts on reporting issues.

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