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FSA selects XBRL for electronic reporting

The FSA has picked Xtensible Business Reporting Language as the blueprint for the set of electronic reporting standards it will develop, opting for XBRL over Origo.

XBRL is an electronic messaging system used by accountancy groups worldwide which condenses complex financial data.

Starting from 2005 with a phased introduction until 2007, regulated firms will report not only their basic business details online but also submit compliance returns via an FSA extranet.

Origo says the decision does not exclude it from involvement in the next stage of the FSA&#39s strategy and that the processes it uses could be absorbed within XBRL processes.

FSA spokesman Robin Gordon-Walker says: “We are still speaking to groups such as Origo and other organisations about implementation but we are going for the XBRL standard.”


Fulton&#39s Positive attitude

Whoever said January would be quiet was playing a cruel joke. The month is far from over and I am feeling distinctly “Tiggered”. It is fitting, then, that the week should start with one of my favourite clients, the wonderfully feline Ali Cooley at Charcol. We discuss the results of their latest personal loan research […]

Kensington Group reports strong results for 2003

The Kensington Group has reported a strong set of results for 2003, revealing before tax profit to be up 23 per cent with new business completions up 98 per cent. For the year ended November 30, 2003, profit before tax and goodwill amortisation rose to £37.1 million from £30.2 million in 2002, a rise of […]

Bloomsbury puts planning online

Bloomsbury Financial Planning is offering investors an online financial planner on its website. The service allows clients to enter details and then provides a series of what-if scenarios based on calculations that Bloomsbury would use. The system includes asset allocation, stochastic forecasting and lifetime cashflow analysis. It can create budget, investment, retirement, protection and mortgage […]

Treasury rethinks suite proposals to comply with ISD

The Treasury is to modify its proposals for the Sandler suite so they will comply with the Investment Services Directive, according to Ron Sandler. Sandler told the select committee that he has been reassured by Treasury Fin-ancial Secretary Ruth Kelly&#39s team that it is looking closely at the requirement for inclusion of a suitability test […]

Bonds in 2017: Stick or twist?

Royal London Asset Management Bond Fund Managers Paola Binns and Craig Inches look at why short duration could be a key tactic for fixed income investors during 2017. Read the full article here The value of investments and the income from them is not guaranteed and may go down as well as up and investors […]


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