EUROPEAN UNION: ESMA Publishes Option paper on the IT possibilities for the implementation of Article 25 of AIFMD

Thursday January 24 2013

Under the Directive 2011/61/EU of 8 June 2011 on Alternative Investment Fund Managers, Article 24 on “Reporting obligations to competent authorities” and Article 25 on “Use of information by competent authorities, supervisory cooperation and limits of leverage” provide the obligation of AIFMs to report periodic data to their National Competent Authorities and the sharing of this information with ESMA, other relevant Competent Authorities and ESRB.

Pursuant to this, ESMA have published a guidance note that presents the overall description of the AIFM reporting system and the most relevant alternatives in terms of IT solutions that could underpin the AIFMD information sharing between authorities.

The report sets out:

• An overall description of the system;
• An AIFM reporting processing description;
• A description of the interconnection with the ESMA AIFM register;
• New information to provide on the competent authority of the AIFs;
• The distribution method of AIFM reporting;
• Transitory period options; and
• XML file structure complexity.

Please refer to the above link for more details.