Reform of the Reporting System
Presentation of the FIN-FSA’s Reporting System Reform
Presentation of the reporting system reform on 23 September 2021.
Invoke selected as supplier
The Financial Supervisory Authority (FIN-FSA) has selected the Invoke e-Regulatory system as the new Reporting System. The Reporting System delivery project with Invoke began at the end of May 2021.
First reports will move to the new system in summer 2022
The system reform covers EBA ITS, EIOPA ITS, ESMA and national (Virati) regulatory reporting. Reports will be submitted to the new system as of the dates given below. The final timetable will be further specified during spring 2022.
|31 July 2022||COREP LCR DA and ALMM|
|30 September 2022||FINREP, COREP OF, LR, LE, SBP CR, SBP RM, SBP IMV, NSFR, FP, REM HE, REM BM, GSII, FRTB, AE, COVID-19 and IF|
|31 December 2022||Solvency 2, Pension Fund, Pan-European Personal Pension Product and national data collections S, R, LTC, RA and VJ|
|31 March 2023||AIFMD, CSDR 7, CSDR 9 and MMF|
The timetable for national data collections other than the five mentioned above will be further specified during spring 2022.
Suomi.fi authorisation and identification
Access authorisations for the Financial Supervisory Authority’s new Reporting System, will operate via the Suomi.fi e-Authorizations service, and reporters will manage the authorisations themselves. The FIN-FSA has published instructions on authorisations for the Reporter Portal on 25 April 2022 (updated 17 June 2022). General instructions on Suomi.fi e-services has been published on 2 May 2022.
Descriptions of machine-language data transmission of XBRL format reports
Description of machine-language data transmission of XBRL format EBA and EIOPA reports of Financial Supervisory Authority’s new reporting system has been published.
In the new Reporting System, reporters will have access to a Reporter Portal in which Finnish and foreign reporters will be identified and authorised via the suomi.fi service. Communication between the FIN-FSA and the reporter will take place via the Reporter Portal, and communication by email will be discontinued.
Reports submitted via portal or interface
Each reporter will see its own reporting obligations in the Reporter Portal. In the Reporter Portal, the reporter can either upload reports it has produced itself or complete data collection-specific web forms. It will also be possible to submit reports to the FIN-FSA directly from the reporter’s own reporting system via an interface (A2A) provided for the reporter. No web forms are planned for CSDR7, CSDR9, and MMF data collections, so reports can either be uploaded to the Reporting System in the Reporter Portal or submitted through the interface.
In the new Reporting System, national reporting will continue to be in CSV format.
For submitted reports, the reporter will receive reporting feedback via both the Reporter Portal and interface (A2A) directly to the reporter’s own reporting system. Reporters will also be able to download submitted reports and reporting feedback in Excel format from the portal.
Test environment for reporters’ use
Reporters will also have access to a test environment. Reporters may submit their reports to the testing environment for checking before submitting the official report to the FIN-FSA.
Production of reporting applications will end
Production of the FIN-FSA’s reporting applications will end as reporting is transferred to the new Reporting System. If, in the future, reporters need to use tools in the production of reports, there are available on the market commercial applications for the production of reports.
Training and communication on the new system
Training on the use of the new Reporting System will be provided before its introduction. Guidelines on reporting will be published on the FIN-FSA’s website. Reporters may participate in testing the system before the first reporting begins in summer 2022.
The Reporting System reform will be discussed in a reporting webinar in the autumn 2021.
Supervised entities will be informed of the progress of the Reporting System reform as new information becomes available.
Questions related to the reform of the Reporting System NewReportingSystem@fiva.fi