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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

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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.

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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.

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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

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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.

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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.

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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. 

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Contact us

Oliver Weber

EMEA AWM Tax leader, Luxembourg AWM leader, PwC Luxembourg

Tel: +352 49 48 48 3175

Christian Heinz

Global Tax Compliance Leader, PwC Luxembourg

Tel: +352 621 33 2247

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