EUROPEAN UNION: Revised guidelines on AIFMD reporting published

Monday November 18 2013

The European Securities and Markets Authority has published its revised Guidelines on reporting obligations under Articles 3(3)(d) and 24(1), (2) and (4) of the AIFMD. The guidelines provide clarification on the information that AIFMs should report to NCAs, the timing of such reporting together with the procedures to be followed when AIFMs move from one reporting obligation to another.

Annex I of the Guidelines sets out a diagram which summarises the reporting obligations of AIFMs, as determined by the total value of assets under management and the nature of the AIFs managed or marketed. Annex II sets out tables of enumerated reporting fields’ values, and Annex III provides stakeholders with the contents of geographical areas to be used for filing of reports.

In addition to the revised guidelines, ESMA has also published ESMA Opinion 2013/1340 to NCAs on the collection of information under the AIFMD. In the opinion, ESMA provides details on a set of additional information that, in its view, NCAs could require AIFMs to report on a periodic basis pursuant to Article 24(5), first sub-paragraph of the AIFMD.

Finally, ESMA has also published material that is not part of the guidelines or opinion but that is of relevance to AIFMs when complying with their reporting obligations, including technical IT guidance, XSD schemes and a consolidated reporting template all based on the Regulation, ESMA’s guidelines on AIFMD reporting obligations and the opinion.

Translations in other languages are being prepared, and once these are published, a two-month period will begin, during which NCAs must notify ESMA whether they comply or intend to comply with the guidelines.

Click on the above link for more details.