Welcome to the monthly capital markets update, a briefing from our capital markets practice area rounding up the month’s regulatory developments within the equity and debt capital markets and looking ahead to future developments.
Malta Update
There were no updates from a Maltese regulatory perspective during the month of December 2023.
European Union Update
UPDATE NUMBER 12/2023/01
On 07 December 2022, ESMA published an update to the 2022 ESEF XBRL taxonomy files and the 2023 ESEF Conformance Suite to facilitate the implementation of the European Single Electronic Format (“ESEF”) Regulation, which regulation became applicable to listed entities’ Annual Financial Reports (“AFRs”) containing financial statements for financial years beginning on or after 1 January 2021.
The updated 2022 ESEF XBRL taxonomy files and the 2023 Conformance Suite may be used by issuers to fulfil the ESEF obligations for their AFRs concerning financial years beginning on or after 1 January 2023. Moreover, given that in 2023 ESMA deferred the postponement of the ESEF RTS to 2024, issuers are urged to adhere to the guidance outlined in the ESEF Reporting Manual at the earliest, but no later than the commencement of financial reporting periods on or after 1 January 2023.
