Advise Technologies has released upgraded reporting and electronic filing software for the Alternative Investment Fund Managers Directive (AIFMD) to coincide with the new guidelines released by the European Securities and Markets Authority (ESMA).
On 1 October, ESMA released final guidance on reporting obligations under the AIFMD. The release included a consolidated reporting template, an opinion letter, and updated technical specifications, all of which have been incorporated into Advise’s revamped software to provide a working solution that fully reflects the most recent guidance.
The consolidated reporting template put forth by ESMA in the final guidance includes significant changes from the previous guidelines that were released earlier this year. As a result, regulatory and compliance software providers were required to make changes to their reporting software, validations, and the XML schema. Advise has incorporated all of these changes to its solution and will continue enhancements to the reporting module as final submission requirements are published from each of the European Union (EU) member states.
The AIFMD electronic filing solution is available on Advise’s Consensus RMS platform, which offers the foundation for a robust and repeatable reporting process. Advise initially launched it AIFMD solution in July to coincide with the 22 July 2013 compliance deadline. The Consensus RMS platform allows managers with multiple reporting obligations to complete the process from a single platform and utilise one data set ensuring efficiency and consistency across filings.
"Advise is engaged with a number of fund managers and service providers on AIFMD projects. By leveraging our software solution, funds and fund managers have a short journey to enrich and extend the data that is already compiled for other filings, like Form PF and CPO-PQR,” says Adam Capon, head of relationship management at Advise Technologies. “Any new regulatory filing will bring nuances and complexities that require extensive planning. We help clients prepare for all eventualities including the increased complexity that a multi-jurisdictional filing such as AIFMD brings to the table."
Advise’s Consensus RMS offers integration with key accounting, risk, data warehouse, investor relations and other systems. The solution currently supports AIFMD, Form PF, CPO-PQR, 13F, and Open Protocol (OPERA) reporting.