Reporting - Financial Conduct Authority

Reporting requirements statement

On 1 October 2013 ESMA published its guidelines on the reporting obligations for Alternative Investment Fund Managers (AIFMs), together with an Opinion setting out supplementary information that should be reported for systemic risk monitoring.  

The FCA requires firms to submit returns using v1.1 of the ESMA reporting documents.

Submitting your data

Gabriel reporting is expected to go live in October 2014.

Until then firms firms may submit reports in either the XML v1.1 format or using the ESMA consolidated template (2013/1359).

After this time firms must report to the FCA via Gabriel using XML v1.1. The FCA will not be able to accept v1.2. We will keep this under review and will update from v1.1 at a future date; this is not likely to happen until after ESMA is able to accept transparency reporting from competent authorities. 

Please submit your completed returns, using the XML v1.1 reporting template, to: firm.queries@fca.org.uk

The subject line of the email should contain your FRN (or firm name for new applications) followed by 'AIFMD Reporting'. We will send an acknowledgement email to confirm receipt.

Please keep checking this page regularly, we will be providing information on how to access Gabriel and information on how FCA firm reference numbers (FRN)  and the FCA product reference numbers (PRN) will be provided to firms.

Frequently asked questions

Q1: When will the first report be due and what will the reporting period be?

Answer:

Reporting is based on when the firm becomes an authorised AIFM or from the date of notification when making a notification under the National Private Placement Regime.

Reporting will be due for the first full quarter following authorisation. For example, an AIFM authorised in Q4 2013, and subject to quarterly reporting, will be required to report at the end of Q1 2014. Please refer to ESMA’s for further information.

Q2: How often is my firm required to report?

Answer:

Reporting frequency is set out in Article 110 of the Level 2 Regulation. Based on the frequency rules outlined in Article 110 we will initially schedule your returns in GABRIEL upon authorisation. It will then be the firm’s responsibility to ensure that the ongoing reporting frequencies are met by indicating and changes from those in GABRIEL by using the appropriate reporting change notification sections in the XML file/s.

Q3: How does my firm report a nil return?

Answer:

The ‘AIFM no reporting flag’ field should be completed as “true” when no information to report for AIFs in the reporting period.

Q4: Should the report be in Sterling, Euros or the base currency of the fund?

Answer:

Returns should be submitted in the base currency of the fund.

Q5: Is it mandatory for submissions to be provided in XML format?

Answer:

No. Until October 2014 we will accept data in xml, xls or xlsx formats. After October 2014, we will only accept reporting via XML and online via GABRIEL.

Q6: What should be reported if an AIF is liquidated during the reporting period?

Answer:

The AIFM should provide the report for the last reporting period of the AIF immediately after it has been liquidated.

Q7: Will there be automated validation checks which will be executed on delivery of the return?

Answer:

Yes, once the firm has uploaded their XML file into GABRIEL it will be subjected to various schema and business validations. Any issues with the file or the data will be made available to the firm in order to make the relevant corrections. These business validations will be published as soon as we are able to.

No validation checks will be performed on returns submitted prior to October 2014.

Q8: What are the reporting requirements for non-EEA AIFMs?

Answer:

Non-EEA AIFMs should report all AIFs marketed in the UK to the FCA.

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