XBRL News about Switzerland, BDCs and CSRD

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XBRL News about Switzerland, BDCs and CSRD

30 June 2022 Technology & Digitalization 0

Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week. 

1  XBRL Switzerland publishes its response to the climate ordinance consultation

2  XBRL reporting rules for BDCs come into effect as SEC adopts new electronic filing requirements

On August 1, 2022, the SEC’s structured data reporting rules governing business development companies will become effective. These rules, which were originally adopted in April 2020, require BDCs to tag certain submissions using Inline eXtensible Business Reporting Language (Inline XBRL). This process involves embedding XBRL data directly into a filing, ensuring that the document is both machine and human-readable. The rules direct BDCs to tag certain prospectus items using Inline XBRL. 

Reporting requirements with XBRL continue to be expanded, this time to business development companies, which in spite of the generic term are actually a type of closed-end fund investing in private market instruments. Thus limited scope …

3  EU announces agreement on CSRD

The Council of the European Union and the European Parliament have this week reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD), a crucial step towards passage of this law. The CSRD is the EU’s legislative proposal to enhance sustainability disclosures and address shortcomings in the existing rules, providing improved information to investors and other users and facilitating the transition to a sustainable economy. 

CSRD will be a watershed piece of European legislation with far-reaching, extraterritorial impact on everything corporate reporting. 


Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.

 We have a self-imposed constraint of 3 news stories each week because we serve busy senior leaders in Fintech who need just enough information to get on with their job.

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