AIFMD Regulatory Reporting Service: Under Annex IV of the Alternative Investment Fund Managers Directive (AIFMD), Alternative Investment Fund Managers (AIFMs) that have been authorised by an EEA member state are required to submit “transparency returns” (‘Annex IV reporting’) to the National Competent Authority (NCA) of the member state that authorised them to manage an Alternative Investment Fund (AIF).
In addition, AIFMs from outside the EEA that market their AIFs into any EEA state must submit transparency returns to the NCA of each member state where they market those AIFs.
Firms will be expected to report either on a quarterly, half yearly or annual frequency; this is primarily driven by the aggregate assets under management.
Firms should note that the amount of data that managers are expected to report will vary significantly between “sub threshold” and “above threshold” AIFMs and is reported separately at the level of the AIFM and each AIF.
The reporting templates themselves have been created by the European Securities and Markets Authority (ESMA) and are lengthy and granular and although the FCA has created its own reporting templates that can be submitted directly into the FCA’s GABRIEL reporting system it should be noted that the majority of EEA NCAs have not followed suit.
Where this is the case reporting submissions must be made using an XML reporting format.
Responding to demand from our clients, Complyport recognises that the complexity of the data that firms will have to report either via GABRIEL or XML can be a challenge and that many firms are unprepared for this task.
To complement its financial returns review service, Complyport is pleased to announce its standalone AIFMD Annex IV XML Reporting Service.
We offer a full process service on a ‘per submission’ fee basis that covers:
- Advice on AIFMD Annex IV data sourcing
- Advice on the reporting frequency
- Customised Excel templates for data collection
- Advice on data items and Excel template completion
- Full data validation against XML rules
- Help with the production of appropriate XML version return files from Excel data templates
- Advice and assistance on direct submission to the FCA via GABRIEL or via XML
- Instruction and help on final submission procedures