Regulation 231/2013 (the “Regulation”) which implemented the Alternative Investment Fund Managers Directive (“AIFMD”) provides details on the reporting obligations to national competent authorities (“NCAs”) under Articles 3 and 24 of the AIFMD.

Annex IV of the Regulation contains a reporting template that Alternative Investment Fund Managers (“AIFMs”) will have to use in order to comply with their reporting obligations.

The European Securities and Markets Authority (“ESMA”) has now published a Consultation Paper on ESMA’s draft Guidelines on reporting obligations under Articles 3 and 24 of the AIFMD (the “Guidelines”) in order to supplement the Regulation and to standardise the format of the information sent to the NCAs.

The Guidelines are contained in Annex III of the Consultation Paper and clarify:

  1. the information that AIFMs should report to the NCAs;
  2. the timing of the reporting; and
  3. procedures to be followed when moving from one reporting obligation to the other.

The Consultation Paper is aimed at asset management companies managing funds that fall within the scope of the AIFMD and investors in these types of funds. Comments are to be received by 1 July 2013 and the feedback will assist ESMA in finalising the Guidelines.

For a link to the Consultation Paper, please click here