Regulatory Alerts2006-06-28
Instruction No. 2006-04 of June 28, 2006 on the transmission to the Banking Commission by credit institutions, investment firms, and financial companies of consolidated financial documents established under IAS/IFRS standards
The French Banking Commission issued Instruction No. 2006-04 to mandate that credit institutions, investment firms, and financial companies subject to IFRS standards submit FINREP reports via XML-XBRL format. The instruction establishes specific submission deadlines for semi-annual and annual reports, replacing previous reporting requirements for non-IFRS entities with consolidated balance sheets and income statements. It also defines the transitional timeline for implementation, requiring initial submissions for certain tables by December 31, 2007, and full compliance by December 31, 2008.
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