COMISION NACIONAL DEL MERCADO DE VALORES

Extension in the use of XBRL to several areas of supervision in the Securities Commission of Spain

Jose M. Alonso

CNMV interested in standards based reporting

•The CNMV receives data from different supervised entities but a good part of this information is forwarded to other national or supranational government agencies or made available to investors, analysts or financial information aggregators in order to increase the markets transparency.

•Multiple formats make data difficult to re-use by different entities.

•Data standards workable for both, reporting entities and regulators’ information recipients facilitate the use of the information.

•XBRL is a tool that helps regulators to standardise information definitions.

•The CNMV started to use XBRL in 2005.

Investors

DataVendors

OtherGovernmentEntities

CIIManagementFirms

OfficialRegisters&internalApplications

Website

Publications

CD-ROM & DVD

FTP

Issuers

Markets

Investmentfirms

SettlementEntities & CSD

CollectiveInvestmentSchemes

Financial Reporting Supply Chain at the CNMV

Issuers supervision

ListedCompanies

OfficialRegisters& internalApplicationsISSUER DATA

Audit reports Significant corporate events Major holdings notifications Public Periodic Information (IPP) (Quarterly & semi-annual reports) Treasury stock information Annual Corporate Governance Report

ISSUE DATA Issuing prospectuses Listing prospectuses OPV & OPA prospectuses Placement information Securitization information

The IPP Taxonomy facilitates the listed companies’ regulatory reporting of Public Periodic Information to the CNMV.

• Three models of reports (Credit Institutions, Insurance companies, General) can be prepared with the IPP taxonomy.

IPP Taxonomy

IPP-COM

IPP-ENCIPP-SEGIPP-GEN

ES-BE-FSIFRS-GP

es-be-fs-roleses-be-fs-types

ifrs-gp-types

dgi-lc-intDGI-EST-GEN dgi-lc-es

dgi-types

• 24,074 instances received at the CNMV and published on its website

Corresponding to: 269 issuers of instruments listed on Spanish markets 2,997 Collective investment vehicles

• Submitted by 441 entities

and... an average of more than 70,000 XBRL reports downloaded every month from the CNMV website

(*) As of 31/3/09

Current status of IPP filing(*)

Investment firms supervision

Firms providing

investment services

Application for authorization &register

By-laws Services and/or Activities Shareholders & qualifying

holdings Management information Branches data Financial statements

(Monthly, Quarterly & annual report)

Information on solvency

Transactions reporting

OfficialRegisters& internalApplications

ES-BE-COREP Taxonomy

• Since the requirements of the CNMV regarding the reporting of solvency ratio for investment firms are the same to those of the Bank of Spain for credit entities, the CNMV decided to accept filing on risk and solvency with the taxonomy already used by the Bank of Spain.

• ES_BE COREP is a Taxonomy developed by the Bank of Spain based on the COREP taxonomy (version 1.2.4 / 2007-04-20).

• The use of the same taxonomy will facilitate the reporting of firms that have to file with the two regulators.

• A total of 158 investment firms will be reporting to the CNMV with ES-BE-COREP starting on July 1st, 2009.

Collective investment vehicles supervision

CollectiveInvestmentSchemes

Application for authorization &register

By-laws Fund prospectuses Qualifying holdings Corporate events Monthly Financial

statements Quarterly reports to mutual

fund shareholders

OfficialRegisters& internalApplications

Taxonomy developed by the CNMV for preparing the quarterly, semi-annual and annual reports described in the annexes of the 4/2008 CNMV’s official letter published in October 2008.These reports are a copy of the ones the Fund Management Companies have to make available to unit holders.

The entities obliged are:- Unit Trusts- Exchange Traded Funds- SICAVs- Real Estate Funds and Investment Companies- Hedge Funds

IIC Taxonomy

IIC Taxonomy

iic-com

Común Global

iic-com-fon

Común Fondos

iic-com-soc

Común Sociedades

dgi-est-gen

iic-ges

Comparativo

iic-fimInversión

Mobililiaria

iic-fiiInversión

Inmobililiaria

iic-ficInversión Cotizado

iic-filFIL y FI de IICIL

iic-sic

SICAV

iic-siiInversión

Inmobiliaria

dgi-lc-es

dgi-lc-int

dgi-types

SIL y SICAV de IICIL

iic-sil

165 fund managers will be sending the quarterly reports of more than 6,000 Collective Investment Vehicles to the CNMV.

More than 24,000 XBRL files per year.

The XBRL report viewer is a web tool available for free at the CNMV’s website that allows financial analysts and investors to view and download the periodic financial information reported to the CNMV by listed companies.

XBRL report viewer and retrieval tool

Different methods of browsing and retrieving reports.

Numerical and graphical data presentation.

Several types of charts available.

Display of one or several reports simultaneously.

Comparison of reports from the same company or from different companies.

Downloading of one or more reports at once.

XBRL report viewer and retrieval tool (II)

Basic features

XBRL report viewer

Report comparison

Access to the XBRL section

www.cnmv.es

Thank you

Jose M. Alonsoalonso@cnmv.es