Regulatory reporting services
AIFMD reporting
Key features
Target |
AIFM |
| Periodicity | On a yearly, half-yearly or quarterly basis |
| Deliverable | Compilation of a specific template including over 302 fields |
Format |
XML format |
Main features
- Reporting in accordance with the Alternative Investment Funds Managers Directive (AIFMD) 2011/61/EU: AIFMs have the duty to report on their activities to the National Competent Authority where they are domiciled or marketed/ distributed, in compliance with the requirements set out by the ESMA.
- Art. 24.1 Report: All AIFs managed by EU AIFM and/or EU AIFs and/or marketed in the EU
- Art. 24.2 Report: Every EU AIF and/or every AIF marketed in the EU
- Art. 24.4 Report: Highly leveraged AIFs
- AIFM Report: All EU AIFM or managing AIF marketed in the EU
CRR reporting
Key features
Target |
Credit institutions |
| Periodicity | On a monthly, quarterly or yearly basis |
| Deliverable | A look-through of investments / a calculation defined by specific criteria |
Format |
Standard Templates |
Main features
- Reporting in accordance with the amended Regulation (EU) 575/2013 and Regulation (EU) 648/2012 (CRR II): The reporting based on this regulation targets prudential requirements for credit institutions and investment firms which invest in investment funds - be it in UCITS or AIFs.
- Risk weighting calculation and currency composition (KSA and/or IRBA): Investors are obliged to regularly report the risk weight of their capital investments and the currency composition.
With regards to CRR II, it’s unavoidable that an external auditor confirms the correctness of the calculation of the own funds requirements for exposures in the form of units or shares in CIUs. Inobservance may have a significant impact on the risk weighting calculation of the institutional investor.
- Countercyclical Buffer (CCYB): Institutions should disclose the geographical distribution of its credit exposures relevant for the calculation of their CCYB.
- Own funds deductions: Institutions should deduct certain equity and subordinated bond investments from their own funds.
- CVA Charge: Institutions shall calculate their own funds requirements for CVA risk in accordance with the CRR for all OTC derivative instruments in respect of all of their business activities, other than credit derivatives recognised to reduce risk-weighted exposure amounts for credit risk.
- Liquidity Reporting: Investors are obliged to regularly report on liquid assets and assess the liquidity levels.
- Art. 128 CRR Analysis and Reporting: Items associated with particular high risk (including shares or units in a CIU) have to be identified and assigned with its adequate risk weight.
Money Market Fund (MMF) reporting
Key features
Target |
Money Market Fund |
| Periodicity | On a yearly or quarterly basis |
| Deliverable | Compilation of a specific template similar to AIFMD |
Format |
XML format |
Main features
Reporting in accordance with Art. 37 MMF regulation EU 2017/1131
Money Market Funds have to submit dedicated transparency reports to their national competent authorities on an annual (< EUR 100 mio) or quarterly (> EUR 100 mio) basis.
This regulation is applicable to all MMFs, be they UCITS or AIFs. The reporting contains information on liquidity, risk, stress test, investors, portfolio and historical data.
The report must be submitted to the national competent authority of the manager of the MMF 30 days after the reporting end date.
PRIIPS reporting
Key features
Target |
Product manufacturer Distributor providing to retail investors |
| Periodicity | Before made available to retail investors Before sale Annual update |
| Deliverable | Max. 3 pages Clear Questions format |
Format |
Website Paper, durable media, public |
Main features
- Documentation in accordance with regulation EU 1286/2014
- European PRIIPs Template (EPT)
Documentation in accordance with regulation EU 1286/2014
Documentation in accordance with regulation EU 1286/2014
Product manufacturers must produce a Key Investor Document (“KID”); a maximum 3 pages document to inform the retail investors about the investment they are about to make.
The document must contain various predefined sections where investors can notably find information about the product, the issuer, the risks related to the product, its costs, and performance scenario. The KID must be updated at least once a year.
Without a KID, product manufacturers cannot sell their products to retail investors.
Furthermore the KIDs must be publically available on the manufacturers’ websites.
Current evolutions are being implemented to the KID to facilitate the transition of the UCITS KIIDs to the PRIIPs KID and fill in the flaws that the first version of the KIDs contains.
European PRIIPs Template (EPT)
European PRIIPs Template (EPT)
Following the entry into force of the PRIIPs regulation (Regulation (EU) No 1286/2014), the various players in the asset management and insurance sector grouped behind Club Ampère have defined a format exchange of data necessary for the production of PRIIPs KID at the insurer level.
The document contains information on the investment funds sold via life insurance contracts. EPTs are required by insurers to asset managers.
Under transitional provisions of the PRIIPs regulation, EPTs contain both UCITS KIIDs and PRIIPs KIDs information. Furthermore, under the current revamping of the PRIIPs KID regulation, modifications / improvements are also expected in the EPTs.
Solvency II reporting
Key features
Target investors |
Insurance companies |
| Periodicity | Market practice is monthly/quarterly; More rarely semi-annually or annually (deadline 10 business days) |
| Deliverable | Production of the TriPartite template |
Format |
Excel and CSV format |
Main features
Reporting to insurance companies in accordance with the Solvency II Directive (2009/138/EC)
The directive is organised around three pillars: Solvency Capital Requirements ("SCR"), governance and supervisionand disclosures and supervisory reporting.
In order to help insurance companies to report their investments into investment funds, the industry association designed a standardised reporting template, the Tripartite template ("TPT"). This template provides a detailed overview of fund composition at share class level to enable a look-through into the share class on a line by line basis.
MIFID reporting - European MIFID Template (EMT)
Main features
Template coordinated by FinDatEx for cost disclosure at distributor level
Following the entry into force of MIFID II, the various players in asset management have defined a format exchange of data necessary for the delivery of information and costs at sales and distributor level in order for them to comply with their MIFID requirements.
The document contains information on product information, costs ex-ante and ex-post for distributors to be able to perform the suitability test and deliver all information in terms of costs to the retail investors before they invest into a financial product.
UCITS reporting- UCITS KIID
Main features
Documentation in accordance with regulation EU 583/2010
Asset managers must produce a Key Investor Information Document ("KIID"); a maximum 2-page document to inform retail investors about the investment they are about to make.
The document must contain various predefined sections where investors can notably find information about the product, the risk - reward, its costs, and past performances. The KIID must be updated at least once a year.
The KIID shall be readily available at the point of sale.
Current developments are being implemented to the PRIIPs KID regulation to facilitate the transition of the UCITS KIIDs to the PRIIPs KID and fill in the flaws that the first version of the KIDs contains. The UCITS KIID should be replaced by the PRIIPS KID in 2022 but should remain applicable for the distribution to institutional investors.
CashFlow Reporting - Reporting for funds distributed to European Banks and similar Institutions
Key features
Target investors |
European Banks and similar Institutions |
| Periodicity | monthly basis |
| Deliverable | Breakdown of the fund’s future cashflows in a specific template |
Format |
Standard excel format |
Main features
European Banks and similar Institutions might ask investment funds to provide them with detailed reporting of all future cashflows for their bond and equity funds.
Providing these investors with the monthly cashflow reporting is necessary for them to fulfil their reporting vis-à-vis their treasury function.
PwC Luxemburg can help with the technically challenging production of this reporting, breaking down and classifying all future cashflows according to the template used by large market participants or creating tailormade reportings.
