FINLAND: Financial Supervisory Authority Publishes Reporting Applications for AIFMD Annex IV

Tuesday January 20 2015

The Financial Supervisory Authority (FIN-FSA) has published reporting applications for COREP, AIFMD Annex IV and Asset Encumbrance (AE) reporting. These reporting applications are used for creating submission files to be submitted to FIN-FSA.

The descriptions of the above mentioned applications have been updated to include the specifications on which supervised entities can generate from their own systems the necessary reports to be submitted to FIN-FSA.

With regard to AIFM reporting, as of 31st December 2014, it is applicable to entities that have registered or been authorised by AIFMs and to third-countries that were granted marketing permission on 30th September 2014. AIFMD reporting is regulated by the AIFMD (2011/61/EU) and the European Commission Regulation (2013/231) and stipulates that Alternative investment fund managers (AIFMs) must regularly provide, for supervisory purposes, information on themselves and the alternative investment funds (AIFs) they manage.

The first section of the document on AIFMD electronic reporting outlines the requirements for regularly reported information. This stipulates that AIFMs must provide information regarding the investment funds that they manage on a regular basis.

The next section stipulates the structure of a submission file. This file must be compressed into a zip file and must include an encrypted XML-format envelope and a zipped and encrypted XML-format AIFMD report. This XML-format will include the requisite data for the report.

The focus of the third section is on the structure of the envelope. This states that FIN-FSA requires a separate XML envelope. This envelope must include the following information:

• XML namespace specifications
• Meta data specifications
• Basic header specification (including a ReportReferenceID and FilePath)

The fourth section of the report documents the structure of the AIFMD report. It states that the reported information required by ESMA is submitted in an AIFM report and an AIF report which can contain information on one or several AIFs.

The AIFM report will feature the following information:

• When the information was created
•  the home Member State of the receiving authority and
• the schema specification version used.

The AIF report, on the other hand, can include information reported by one or several AIFs.

The document also features information regarding: schema of files of reporting; reported values and precision; encryption and compressions (i.e. the envelope report must be zip-compressed before it is submitted); use of reporting applications; creating a submission file by other means; and file naming.

Click here to access the AIFMD reporting description.

FundWare Annex IV Reporting

Funds-Axis manages the entire Annex IV process; data management, all complex calculations, enrichment of data, population of all 340 required fields, XML conversion and submission to the regulator. Our solution, FundWare:

• Performs all required Annex IV calculations, including commitment and gross method exposure
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For further details contact Rosie McKerr at rosie@funds-axis.com or call +44 2890 329736.