Tue, Mar 31, 2020
ESMA Announces Update to Reporting Under the Money Market Funds Regulation
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ESMA Consultation Paper on Cross-Border Distribution of Funds
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ESMA Announces Update to Reporting Under the Money Market Funds Regulation
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ESMA Publishes Final Report of Technical Advice
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ESMA, announced that the submission date for the first reports by Money Market Funds (“MMF”) managers under the MMF Regulation (“MMFR”), would be pushed back from April 2020 to September 2020.
By virtue of updates being made to the XML schemas which are used for the reporting, MMF managers will have an extended period to comply with the reporting requirements.
MMF managers are required to submit relevant data to National Competent Authorities (“NCA”) under Article 37 of the MMFR, who will then pass this information onto ESMA. The XML schemas and reporting instructions were published together with the first quarterly reports in July 2019. In light of feedback from market participants and an assessment by the technical committee, ESMA amended the XML schema and reporting instructions.
MMF managers should use the updated version of the aforementioned documents, which will be published on the ESMA website shortly, to comply with Article 37 of the MMFR by September 2020. Firms should note that they will be required to submit quarterly reports for both the Q1 and Q2 2020 reporting periods.
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