The European Securities and Markets Authority (ESMA) has published a consultation paper on “Guidelines on reporting obligations under Article 3 and Article 24 of the AIFMD [Alternative Investment Fund Managers Directive]”. The AIFMD Implementing Regulation (Regulation 231/2013) contains details on the reporting obligations to national competent authorities (NCAs) under Articles 3 and 24 of the AIFMD. In Annex IV of Regulation 231/2013 there is a comprehensive reporting template to be used by AIFMs in their reporting obligations. However, ESMA found it necessary to supplement Regulation 231/2013 with further guidelines on reporting obligations so that the format of the information sent to NCAs by AIFMs can be standardised.
ESMA seeks feedback on the questions contained under Annex I. In addition the consultation paper contains:
- draft guidelines providing clarification on the information that AIFMs should report to NCAs, the timing for reporting and procedures to be followed when AIFMs move from one reporting obligation to another – Annex III;
- reporting template set out in Regulation 231/2013 – Annex IV;
- diagram summarising the reporting obligations of AIFMs, as determined by the total value of assets under management and the nature of AIFs managed or marketed;
- IT guidance for XML filing – Annex VI. The consultation paper is accompanied by the AIFM reporting XSD schema for AIFMs to use when reporting information to NCAs; and
- other matters including the typology of asset types, the codes of AIF strategies, the position sizes and the measures of risk which can be found under Annex VII.
Next steps. The deadline for comments to this consultation paper is 1 July 2013.
Copies of the consultation paper and related webpage are available.
http://www.esma.europa.eu/consultation/Consultation-guidelines-AIFMD-reporting-obligations
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