RegData: upcoming changes to AIF reporting from end of June 2022

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RegData: Upcoming changes to AIF Reporting

Changes from end June 2022

This email explains the changes we are making in RegData to the AIF001 Manager's Report and the AIF002 Fund Transparency Report.

 

Why are we changing AIF001 and AIF002?

Following the UK's withdrawal from the EU, we are amending certain references in the AIF001 and AIF002 reports.  Previous references to 'the EU' or the 'EEA' are being removed or replaced with 'the UK' and references to 'ESMA' are being replaced with 'the FCA'. Data relating to EU assets [and liabilities] should be reported in the appropriate category; for example, in AIF002 EU sovereign bonds has been removed and these should now be reported as 'G10' or 'non-G10' bonds as appropriate.

 

We are informing you of these changes now so you can familiarise yourselves with the revised reports ahead of the next reporting period. For the majority of firms, this means the new reports will be used for the first time in relation to Reporting Period End 30 June 2022 and due for submission by 1 August 2022.

 

What are the changes and how are they being delivered in RegData?

A new version 2 has been created for the AIF001 and AIF002 reports which results in a slight change to your user journey in RegData. When you select either AIF001 or AIF002 under the Prepare Report option from the AIFMD menu in RegData, you will be presented with a new screen asking you to select the version that you intend to report data against. To report data for reporting periods ending on or prior to 31/03/2022, select version 1. To report data for reporting periods ending after 31/03/2022 (i.e. the new versions of the reports), select version 2.

 

A summary of the key changes to the reports is listed below:

 

Summary of version 2 changes

 

AIF001

Key changes to the report:

  • The following fields have been removed:
    • 2A ‘Is this in the EEA?’
    • 8A ‘Old home member state’
    • 9A ‘Old national regulator's code’
    • 32-36B - Value 'EU bonds with a 0-1 year term to maturity' and 'EU bonds with a 1+ year term to maturity' removed from drop-down list.
    • 37A ‘ESMA item number’
    • 37B ‘Description of assumption’
  • The following fields have been added:
    • 32-36B - Value 'UK bonds with a 0-1 year term to maturity' and 'UK bonds with a 1+ year term to maturity' added to drop-down list.
    • 38A 'FCA Field Reference', to replace field 37A.
    • 38B 'Assumption Details', to replace field 37B.
  • Validation has been added to field 18A ‘End date’ to enforce the rule that version 2 can only be submitted for reporting periods ending after 31/03/2022.
  • Text-only changes to section headings and regulatory references where applicable
  • Completion guidance added to the top of the report

 

AIF002

Key changes to the report:

  • The following fields have been removed:
    • 4A - Field ‘Is this in the EEA?’ removed.
    • 12A - Field 'European Central Bank Code' removed.
    • 13A - Field 'Old home member state' removed.
    • 14A - Field 'Old national regulator's code' removed.
    • 42-46C - Value 'EU bonds with a 0-1 year term to maturity' and 'EU bonds with a 1+ year term to maturity' removed from drop-down list.
    • 49A - Field 'Europe (EEA) - % of aggregated asset value' removed.
    • 49B - Field 'Europe (EEA) - % of NAV ' removed.
    • 50A - Field 'Europe (other than EEA) - % of aggregated asset value' removed.
    • 50B - Field 'Europe (other than EEA) - % of NAV' removed.
    • 55-64C - Value 'EU bonds with a 0-1 year term to maturity' and 'EU bonds with a 1+ year term to maturity' removed from drop-down list.
    • 88A - Field 'EU bonds with a 0-1 year term to maturity - Long Value' removed.
    • 88B - Field 'EU bonds with a 0-1 year term to maturity - Short Value' removed.
    • 89A - Field 'EU bonds with a 1+ year term to maturity - Long Value' removed.
    • 89B - Field 'EU bonds with a 1+ year term to maturity - Short Value' removed.
    • 154A - Field 'EU Member State  bonds - Market Value' removed.
    • 155A - Field 'Non-EU Member State bonds - Market Value' removed.
    • 248A - Field ‘ESMA item number’  removed.
    • 248B - Field 'Description of assumption’ removed.
  • The following fields have been added:
    • 42-46C - Value 'UK bonds with a 0-1 year term to maturity' and 'UK bonds with a 1+ year term to maturity' added to drop-down list.
    • 55-64C - Value 'UK bonds with a 0-1 year term to maturity' and 'UK bonds with a 1+ year term to maturity' added to drop-down list.
    • 250A - Field 'UK - % of aggregated asset value' added.
    • 250B - Field 'UK - % of NAV ' added.
    • 251A - Field 'Europe (other than UK) - % of aggregated asset value' added.
    • 251B - Field 'Europe (other than UK) - % of NAV' added.
    • 252A - Field ' UK bonds with a 0-1 year term to maturity - Long Value' added.
    • 252B - Field 'UK bonds with a 0-1 year term to maturity - Short Value' added.
    • 253A - Field 'UK bonds with a 1+ year term to maturity - Long Value' added.
    • 253B -  Field 'UK bonds with a 1+ year term to maturity - Short Value' added.
    • 254A - Field 'UK bonds - Market Value' added.
    • 255A - Field 'Non-UK bonds - Market Value' added.
    • 256A - New field 'FCA Field Reference' added to the assumptions section to replace 248A.
    • 256B - New field 'Assumption Details' added to the assumptions section to replace 248B.
  • Validation has been added to field 18A ‘End date’ to enforce the rule that version 2 can only be submitted for reporting periods ending after 31/03/2022.
  • Text-only changes to section headings and regulatory references where applicable
  • Completion guidance added to the top of the report

 

 

Additional information for firms that choose to upload their data via the AIFMD menu as opposed to using the Online Forms

When reporting data for reporting periods ending after 31/03/2022 you will need to ensure your XML data is compliant with the new version 2 of the AIF001/AIF002 schemas. You will also need to ensure that the ‘Version’ tag within your XML file references version 2.

Updated Data Definitions and schemas are available on our RegData Resources page. A summary of the schema-related changes is listed below:

 

AIF001

Schema-related changes (AIFMD_DATMAN_V2):

  • Element 'AIFMNationalCode' data type amended to 'FRNType'
  • Element 'CancelledAIFMNationalCode' data type amended to 'FRNType'  

 

AIF002

Schema-related changes (AIFMD_DATAIF_V2):

  • Updated to reference  the AIFMD_REPORTING_DataTypes_V2.xsd schema.
  • Element 'AIFMEEAFlag' removed from 'ComplexAIFRecordInfoType'
  • Element 'AIFMNationalCode' data type amended to 'FRNType'.
  • Element 'AIFNationalCode' data type amended to 'PRNType'.
  • Element 'CancelledAIFMNationalCode' data type amended to 'FRNType'.
  • Element 'CancelledAIFNationalCode' data type amended to 'FRNType'.

 

AIFMD Data Types schema changes

Schema changes (AIFMD_REPORTING_DataTypes V2):

  • Element 'OldAIFMIdentifierNCA' removed from 'ComplexAIFMIdentifierType'.
  • Element 'OldAIFIdentifierNCA' removed from 'ComplexAIFIdentifierType'.
  • Element 'AIFIdentifierECB' removed from 'ComplexAIFIdentifierType'.
  • Element 'EEAAUMRate' removed from 'ComplexAUMGeographicalFocusType'.
  • Element 'UKAUMRate' added to 'ComplexAUMGeographicalFocusType'.
  • Element 'EuropeAUMRate' removed from 'ComplexAUMGeographicalFocusType'.
  • Element 'EuropeNonUKAUMRate' added to 'ComplexAUMGeographicalFocusType'.
  • Element 'EuropeNAVRate' removed from 'ComplexNAVGeographicalFocusType'.
  • Element 'UKNAVRate' added to 'ComplexNAVGeographicalFocusType'.
  • Element 'EEANAVRate' removed from 'ComplexNAVGeographicalFocusType'.
  • Element 'EuropeNonUKNAVRate' added to 'ComplexNAVGeographicalFocusType'.
  • Value 'SEC_SBD_EUBY' removed from 'SubAssetTypeType'.
  • Value 'SEC_SBD_EUBM' removed from 'SubAssetTypeType'.
  • Value 'SEC_SBD_UKBY' added to 'SubAssetTypeType'.
  • Value 'SEC_SBD_UKBM' added to 'SubAssetTypeType'.
  • Value 'SEC_SBD_EUB' removed from 'TurnoverSubAssetTypeType'.
  • Value 'SEC_SBD_NEU' removed from 'TurnoverSubAssetTypeType'.
  • Value 'SEC_SBD_UKB' added to 'TurnoverSubAssetTypeType'.
  • Value 'SEC_SBD_NUK' added to 'TurnoverSubAssetTypeType'
  • Element 'QuestionNumber' removed from 'ComplexAssumptionType'.
  • Element 'AssumptionDescription' removed from 'ComplexAssumptionType'.
  • Element 'FCAFieldReference' added to 'ComplexAssumptionType'.
  • Element 'AssumptionDetails' added to 'ComplexAssumptionType'.
  • Data type 'FCAFieldReferenceType' added.
  • Data type 'FRNType' added to Restricted Value Types section for use by 'AIFMNationalCode' and 'CancelledAIFMNationalCode' elements.
  • Data type 'PRNType' added to Restricted Value Types section for use by 'AIFNationalCode' and 'CancelledAIFNationalCode' elements.

 

 

If you have any questions on the above, please contact us.