BELGIUM: FSMA issue Circular on reporting obligations of alternative investment fund managers

Friday September 5 2014

The Financial Services and Markets Authority (FSMA) have issued a circular on the obligations of Alternative Investment Fund Managers (AIFMs) with regards reporting to the FSMA.

The objective of the circular is to inform managers concerned about the content and manner of transmission of reports they are obliged to provide to the FSMA in accordance with the Act of 19 April 2014 relating to alternative undertakings for collective investment and their managers.

The report to pass to the FSMA are based on the models listed in Annex IV Regulation Commissioner (EU) No 231/2013 of the Commission of 19 December 2012 supplementing the Directive 2011/61 / EC of the European Parliament and of the Council as regards exemptions, the terms and conditions of practice, custodians, leverage, transparency and supervision (hereinafter after “231/2013 Regulation”)

The reports are prepared on a quarterly, semi-annual or annual basis in the calendar year, each reporting period ending on the last business day of March, June, September or December. The manager is responsible for determining the frequency of each report to send to the FSMA, to comply and to notify the FSMA of potential changes in frequency of reporting. The reports are to be provided as soon as possible and no later than one month after the date of the report. When the OPCA (FSMA alternative collective investment agencies authorised in Belgium) is a fund of funds, the manager has an additional 15 calendar days to report.

Managers must begin to submit reports on the first day of the quarter following the one from which they have information to share and the last day of the first reporting period.

Click on the above link for the Circular. (Only available in French and Dutch)