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Lombard Risk Management, a provider of regulatory reporting, compliance and collateral management solutions for the financial services industry, is now offering firms a free online facility to help resolve XBRL (or, eXtensible Business Reporting Language) validation errors encountered when submitting European Banking Authority regulatory reports to the Financial Conduct Authority (FCA) or to the Confederation of British Industry.
Firms have until the end of June to produce, test and submit the new XBRL-based regulatory reports in order to be compliant with the latest Common Reporting rules, Lombard notes.
While FCA offers GABRIEL (or, Gathering Better Regulatory Information ELectronically), its online regulatory reporting system, to check XBRL submissions, any errors are presented with a “non-human-friendly ‘Assertion ID’ (an error code e.g. v0220_m) leaving the firm to work out where in the report the error has occurred,” according to Lombard officials
Hence, the XBRL Checker targets firms that want to “gain insight into the Assertion IDs produced by online submission systems, so that they may better understand where the XBRL error lies and resolve it quicker.”
The service is open to clients and non-clients of Lombard. To find the checker, go to http://www.lombardrisk.com/.
Need a Reprint?- Read More:
- Lombard Risk Management,
- XBRL
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