On October 1, the European Securities and Markets Authority (ESMA) published guidelines on reporting obligations under Articles 3 and 24 of the Alternative Investment Fund Managers Directive (AIFMD) in Annex II of its final report. The aim of the guidelines is to provide clarification on:
the information that alternative investment fund managers (AIFMs) should report to national competent authorities (NCAs);
the timing of the reports; and
the procedures to be followed when AIFMs move from one reporting obligation to another.
Following translation of the guidelines into the official languages of the EU, a two-month notification period will be triggered during which NCAs must notify ESMA whether they comply, or intend to comply, with the guidelines. Final Report.