BVI supports ESMA proposals regarding an integrated fund data collection

The BVI has published a statement on ESMA's discussion paper on the integrated collection of funds’ data. The association in principle supports ESMA's proposals for the development of a uniform reporting mechanism, which in the long term is intended to replace all existing reporting requirements for fund management companies at a European and national level.

ESMA's objective is to create a system that consolidates the requirements of the AIFMD, the UCITS Directive, the Money Market Fund Regulation (MMFR) and the statistical frameworks of the European Central Bank.

The BVI points out that this would require a complete overhaul of the entire reporting system. Given the tight schedule according to which ESMA is to develop technical regulatory standards by 16 April 2027 in accordance with Article 24(5a) of the AIFMD and Article 20a(5) of the UCITS Directive, the association considers this reform to be too complex and impossible to implement within the given timeframe.

As a short-term solution, the BVI proposes a new data exchange between all supervisory authorities, including ESMA, ESRB, ECB, national central banks and the competent national authorities.

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