TR2-11 Extension in the use of XBRL to several areas of the supervision in the Securities Commission of Spain

Presenter: Jose M. Alonso-Revilla

In July 2005 the Spanish securities regulator, CNMV (Comisión Nacional del Mercado de Valores), made the reporting in XBRL mandatory. Since that date, the CNMV has received and made available at its website more than 23,000 XBRL reports submitted by 441 entities (listed companies and Mutual Fund Managers). To facilitate the use of the XBRL reports, the CNMV has developed a web tool, offered free at its website, which allows the investors and financial analysts to view and download the XBRL files. With the aim of extending the XBRL to other areas of the securities supervision, the CNMV is currently running two new projects. One to adapt the reporting system to allow the investment firms to file with the CNMV information around solvency ratios using reports created with a taxonomy developed by the Bank of Spain, and another one the develop a new XBRL taxonomy for the reporting of financial statements by Mutual Funds.