Direct filing of AIFMD reports to French regulator
Fundsquare provides solutions for direct filing of reports under the Alternative Investment Fund Managers Directive (AIFMD) to the French regulator, the Autorité des marchés financiers (AMF).
Under the directive, alternative investment fund managers have extensive and ongoing reporting obligations to the “home” country regulator of alternative investment funds that they manage. They must regularly file a large range of data that includes information on assets and risks of the fund. This is the first time that such filing has been enabled directly between a Luxembourg company and the AMF in the context of the directive. It will allow regulatory reporting through standardized tools and automated processes.
Pushing fund data to regulators
Fundsquare provides the full gamut of services to help alternative managers efficiently comply with the directive and to communicate with both regulatory authorities and investors, permitting them to fulfil all compliance and distribution requirements.
On the regulatory side, this means Fundsquare can, in addition to being able to push the ongoing regulatory reporting, can push AIFMD authorisation, registration and passporting requests to the authorities in Europe. On the distribution side, the company can push static and dynamic data and documents to investors, as well as manage distribution lists and monitor information dissemination.
As for all reporting and communication with authorities, Fundsquare’s e-file platform is used for AIFMD compliance. The sending service module of e-file enables automatic report transmission to authorities and also covers automatic encryption, automatic checks and follow-up and acknowledgement features.
The amount of data collected by European regulatory authorities is expected to increase. In March of this year, the European Securities and Markets Authority, published its first statistical report on EU Alternative Investment Funds. It pointed out that “data coverage, which currently stands at around 80% in terms of both the number of AIFMs and the NAV of AIFs, will improve over time.”