FCA Weighs Delaying Electronic Reporting Regime

Law360, London (July 23, 2020, 4:36 PM BST) -- Britain's finance watchdog has said it may delay enforcing new European Union rules designed to ensure that all financial reports and accounts are machine-readable, saying it wants to give U.K. companies more time to deal with the chaos caused by the COVID-19 pandemic.

The Financial Conduct Authority said Wednesday that it will postpone the introduction of rules requiring U.K. companies to comply with the European Single Electronic Format, a regime that aims to make all of the bloc's financial reporting both uniform and digital-friendly, by one year due to the global health crisis. The watchdog is consulting the sector on the...

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