FCA consults on update to electronic reporting under DTR

FCA currently allows issuers to use, among other taxonomies, the UK Single Electronic Format (UKSEF) 2022 taxonomy from the Financial Reporting Council (FRC) to mark up their annual financial statements within the annual financial report.

FCA proposes that as from 3 May 2022, the definition of UKSEF 2022 in Article 2(4B) of the Transparency Directive (TD) ESEF Regulation so that it refers to UKSEF 2022 v2.0.0 instead of v1.0.0. This consultation applies to issuers who follow Disclosure, Guidance and Transparency Rules (DTR) 4.1.

Responses to the consultation must be submitted by 8 April 2022.