On 14 May 2015, CBI advised that it is open to receive formal submissions of Solvency II preparatory phase reporting. In a recent Solvency II newsletter, the CBI advised firms, based on feedback from test filings, to fully apply the XBRL taxonomy validation rules before attempting to upload returns and to pay close attention to guidance in the User Procedure documents on non-taxonomy related issues. The CBI has now published additional feedback on test filings in its Information Note 7. While preparatory reporting is mandatory for High and Medium High firms, Low or Medium Low impact firms can also choose to submit preparatory phase reports. The deadlines for reporting are 3 June 2015 for individual undertakings and 15 July 2015 for relevant group submissions, however submissions from Low and Medium Low undertakings will be accepted throughout 2015.