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:
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