CoreFiling's Seahorse delivers XBRL reporting under CRD IV and Solvency II
Fully-featured cloud-based solution helps financial institutions meet the new regulatory reporting obligations.
Oxford, 12th December, 2013. CoreFiling, the leading developer of XBRL (eXtensible Business Reporting Language) software used by regulators, government agencies and corporates world-wide, have announced XBRL disclosure production using Seahorse® optimised for regulatory reporting under the CRD IV and Solvency II mandates.
From early 2014 the National Competent Authorities, and by extension the firms they oversee, must submit XBRL-based COREP reports to the European authorities. Interim reporting to EIOPA, the insurance regulator, will also begin shortly. Under the new reporting regime, regulated entities must submit vastly increased amounts of capital, exposure and risk data. Seahorse makes it easy to prepare the mandated XBRL reports without understanding the intricacies of XBRL.
Accessed via a secure browser-based interface, Seahorse manages the creation of XBRL disclosures, with a full cloud-based solution running from forms-creation to ready-to-file submissions. The service is based on a suite of mature market-tested components delivering risk-free 24x7 operation and high-quality XBRL processing. The service will always provide compatibility with the current regulatory taxonomy and generates XBRL documents which are fully validated by CoreFiling's True North® processor.
Philip Allen, Executive Chairman of CoreFiling said: "Seahorse is in widespread use in the UK and Ireland where it has gained a reputation as the most accurate XBRL conversion and filing system on the market. CoreFiling are now delighted to offer Seahorse for the benefit of the banking and insurance community as they embark upon XBRL reporting for the first time. Seahorse offers a risk-free solution to the compliance problem."