Home / CY AIFM Law of 2013 / PART IV – TRANSPARENCY REQUIREMENTS / Section 31 - Reporting obligations to the Commission.

Reporting obligations to the Commission.

31.-(1) AIFMs of the Republic shall regularly report to the Commission on the principal markets and instruments in which it trades on behalf of the AIFs they manage. AIFMs of the Republic shall include in these reports information on -

(a) the main instruments in which it is trading on behalf of the AIF; and

(b) the markets of which it is a member or where it actively trades; and (i)

(c) on the principal exposures and most important concentrations of each of the AIFs it manages.

(2) AIFMs of the Republic shall, for each of the EU AIFs it manages and for each of the AIFs it markets in the Union, provide the following information to the Commission:

(a) the percentage of the AIF’s assets which are subject to special arrangements arising from their illiquid nature;

(b) any new arrangements for managing the liquidity of the AIF;

(c) the current risk profile of the AIF and the risk management systems employed by the AIFM to manage the market risk, liquidity risk, counterparty risk and other risks including operational risk;

(d) information on the main categories of assets in which the AIF invested;

(e) the results of the stress tests performed in accordance with paragraph (b) of subsection (3) of section 16 and subsection (1) of section 17.

(3) The AIFM shall, on request, provide the following documents to the Commission:

(a) an annual report for each EU AIF managed by the AIFM and of each AIF marketed by it in the Union, for each financial year in accordance with subsections (1) and (2) of section 29;

(b) at the end of each quarter a detailed list of all AIFs which the AIFM manages.

(4) An AIFM of the Republic, managing AIFs employing leverage on a substantial basis, shall make available to the Commission -

(a) information about the overall level of leverage employed by each AIF it manages; and

(b) a break-down between leverage arising from borrowing of cash or securities and leverage embedded in financial derivatives; and

(c) information regarding the extent to which the AIF’s assets have been reused under leveraging arrangements; and

(d) the identity of the five largest sources of borrowed cash or securities for each of the AIFs managed by the AIFM, and the amounts of leverage received from each of those sources for each of those AIFs.

(5) Non-EU AIFM, for which the Republic is the member state of reference, shall make available to the Commission the information referred to in subsection (4), only for the EU AIFs it manages and for the non-EU AIFs it markets in the Union.

(6) Where the Commission considers it is necessary for the effective monitoring of systemic risk, it may require the AIFM of the Republic to disclose additional information to that described in this section, on a periodic as well as on an ad-hoc basis. The Commission shall inform ESMA about the additional information requirements.

(7) The Commission may, by directive, impose to the AIFMs of the Republic additional reporting requirements, after ESMA’s request in accordance with the provisions of the second sub-paragraph of paragraph 5 of Article 24 of the Directive 2011/61/EU.

(i) 8(I) of 2015