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On 8 April the European Securities and Markets Authority (ESMA) published the annual statistical report on EU Alternative investment funds. In the report, ESMA calls for improvement of the data quality in the Annex IV reporting. In addition, the reports calls for the follow-up of the improvement of the Alternative Investment Fund Managers Directive (AIFMD) by the European Commission, which was initiated in August 2020.
The three following aspects were highlighted in particular:
Since 2019, ESMA and national competence authorities (NCAs) carried out data quality improvement process. AIFMs have been urged to improve the data quality in their reports or provide explanations if the quality requirements are not met. In 2020 some NCAs even implemented the data quality assurance into their automatic validation rules and reject reports that failed the validation checks.
In the annual statistical report, ESMA disclosed the focus of the data quality test as the following:
The acarda AIFMD reporting platform automatically checks your data and helps you identify quality gaps at an early stage. With our flexible business rule engine, we can quickly implement new requirements and adapt the rules to your specific needs.
Press contact
Jessica Schreiner
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Email: jessica.schreiner@acarda.de
acarda wird zu „Capmatix Regulations“. Following integration into the LPA Group product portfolio.
As expected, the European Commission recently announced that the Regulatory Technical Standards (RTS) for the Sustainable Finance Disclosure Regulation (SFDR) will not come into effect until 1 January 2023.
In a plenary session on 23 November, the European Parliament extended the transitory period for the use of PRIIPs KIDs,
giving asset managers until 1 January 2023 to comply with the new requirements.
acarda wird zu „Capmatix Regulations“. Following integration into the LPA Group product portfolio.
As expected, the European Commission recently announced that the Regulatory Technical Standards (RTS) for the Sustainable Finance Disclosure Regulation (SFDR) will not come into effect until 1 January 2023.
In a plenary session on 23 November, the European Parliament extended the transitory period for the use of PRIIPs KIDs,
giving asset managers until 1 January 2023 to comply with the new requirements.
The PRIIPs regulation, which has been in force since January 2018, aims to make “packaged” investment instruments and capital-forming insurance products more comparable and understandable for investors.
On July 28, 2021, BaFin announced the updated collective rulings on reporting requirements for insurance companies and pension funds.
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