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Extension of financial reporting deadlines for listed companies

Find below the latest actions from the Financial Conduct Authority (FCA), the European Securities and Markets Authority (ESMA) and Commission de Surveillance du Secteur Financier (CSSF) to support listed companies during the coronavirus crisis.

One such measure announced by the Financial Conduct Authority (FCA) in collaboration with the Financial Reporting Council (FRC) and Prudential Regulation Authority (PRA), is that listed companies now have 6 months to publish audited annual reports from the end of the financial year. The European Securities and Markets Authority (ESMA) has issued a statement on the implications of the Covid-19 pandemic on the deadlines for publishing financial reports which apply to listed issuers under the Transparency Directive. The statement underlines that issuers should keep their investors informed of the expected publication delay and that requirements under the Market Abuse Regulation still apply.

Also the financial supervisory authority CSSF in Luxembourg will not apply a strict enforcement policy with regards to reportings if delays are duly justified. Regarding the use of deadline extension for AIFMD reports, the CSSF expects to be informed by the issuer about its decision to make use of the deadline extension.

In this respect, the supervised entities should contact the CSSF through their usual channels as soon as possible and ahead of reporting deadlines. Also note, that the reporting deadline for normal AIFs and Fund of Funds remains 30 April and 15 May based on the fund strategy.

Please read more on the extension of deadlines for concerned entities according to the new bill of law n°7540 submitted by the Luxembourg Ministry of Finance, summarised by Clifford Chance. Clearly, acarda is able to produce the reports based on raw data in the original time-frame without delay. Our regulatory reporting platform arep and all surrounding systems can be accessed remotely with secured equipment.

Please contact us if you have questions or need assistance regarding your regulatory reporting.

More news…

New standards for PRIIPs-KIDs as of July 01, 2022

According to information from the German Investment and Asset Management Association (BVI) dated May 21, 2021, the EU Commission plans to delay the start of PRIIPs-KIDsby six months. A package of measures, which will include not only technical adjustments to Level 2 but also a selective amendment to the Level 1 Regulation, is to be forwarded by the EU Commission to the EU Parliament and Council before the end of June 2021.

More

ESMA updates its FAQs on AIFMD

On 28th May 2021, ESMA published an update on its FAQ on the application of the Alternative Investment Fund Managers Directive (AIFMD).
Three new questions related to Annex IV reporting were added to the document. In the Section III question number 84, 85 and 86, ESMA provided detailed explanations and examples on the reporting obligation of NET DV01, NET CS01 and NET Equity Delta of the AIF.

More

acarda adds InReg for increased European regulatory monitoring

acarda, a leading European RegTech company and part of LPA Group, has announced a coorperation with InReg, a regulatory maintenance provider that specialises in monitoring changes occurring within the regulatory updates for the asset management and life insurance sectors.

More

New standards for PRIIPs-KIDs as of July 01, 2022

According to information from the German Investment and Asset Management Association (BVI) dated May 21, 2021, the EU Commission plans to delay the start of PRIIPs-KIDsby six months. A package of measures, which will include not only technical adjustments to Level 2 but also a selective amendment to the Level 1 Regulation, is to be forwarded by the EU Commission to the EU Parliament and Council before the end of June 2021.

More

ESMA updates its FAQs on AIFMD

On 28th May 2021, ESMA published an update on its FAQ on the application of the Alternative Investment Fund Managers Directive (AIFMD).
Three new questions related to Annex IV reporting were added to the document. In the Section III question number 84, 85 and 86, ESMA provided detailed explanations and examples on the reporting obligation of NET DV01, NET CS01 and NET Equity Delta of the AIF.

More

acarda adds InReg for increased European regulatory monitoring

acarda, a leading European RegTech company and part of LPA Group, has announced a coorperation with InReg, a regulatory maintenance provider that specialises in monitoring changes occurring within the regulatory updates for the asset management and life insurance sectors.

More

acarda receives ISO certification for information security

acarda has successfully passed this year’s certification audit in accordance with ISO 27001 for the scope “Software development and operation of SaaS solutions for the reporting of private and investment funds”.

More

ESMA calls for improvement of data quality in AIFMD reporting.

On 8th April the European Securities and Markets Authority (ESMA) published the annual statistical report on EU Alternative investment funds2. 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.

More

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