UPDATE: AxiomSL Drives Industry Collaboration On Open Taxonomy for MAS 610
AxiomSL has convened an industry group to help devise a taxonomy that will simplify compliance reporting for the revised Monetary Authority of Singapore 601 update.
Editor’s Note: This article has been updated to include reflections from BR-AG CEO Michał Piechocki and AxiomSL’s Abraham Teo about the role of collaborating banks and why the taxonomy will incorporate XBRL.
In order to establish the taxonomy, the regulatory reporting and risk management solutions provider is partnering with two domestic systemically important institutions (D-Sibs), seven international banks, including four global systemically important institutions (G-Sibs), advisory firm PwC
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