Leading stock exchanges BSE and NSE have announced that they have taken steps to regulate the disclosure of key information by listed companies to investors.

Listed companies are required to submit compliance documents to the stock exchange regularly within a specified period.

Following these measures, the stock exchange implemented a new compliance filing mechanism based on XBRL, with the same and homogeneous compliance data structure.

In a joint statement, the BSE and NSE said the move would ease the compliance burden on listed entities and analyse the data they submit.

The two exchanges have published XBRL-based equity, debt, real estate infrastructure trust (REIT) and infrastructure investment trust (InvIT) filings to facilitate input of key provisions of Sebi’s LODR (Listing Obligations and Disclosure Requirements) regulations.

Listed companies will be required to submit investor complaints, shareholding models, corporate governance, financial performance, annual reports, business responsibility and sustainability reports, voting results, insider trading and related party transactions in XBRL format.

Previously, the Sebi Market Data Advisory Committee (MDAC) considered implementing XBRL for all company documents. The committee recommends policy measures in areas such as securities market data standardisation, access, and privacy. Previously, listed entities had to report XBRL-based financial reports since 2015.