Regulatory Reporting is the process of gathering, processing, calculating, validating, formatting and submitting data which are required on a regular basis by the regulator or supervisor, to which the legal entity is subject to reporting. In the financial sector, the supervision function is in permanent reshaping thanks to the systemic shocks the global financial system has been enduring in the last years.
 
As a consequence, the supervision function gets higher and higher on the agenda of the European Commission, which had laid out pan-european harmonisation plans to align national supervision authorities which are dealing with similar challenges in the global context.
 
That’s why the European banking and insurance supervision landscape gets new European authorities such as the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority – each of them equipped with clear mandates to set the pace with technical standards to align regulatory reporting.