United Kingdom (and EU regulation)

ESMA publishes updates to Q&As on the AIFMD and the EuSEF and EuVECA Regulations

The European Securities and Markets Authority (ESMA) has published updated Q&As on the:

Alternative Investment Fund Managers Directive (AIFMD); and
Regulation on European Venture Capital Funds (EuVECA) and the Regulation on European Social Entrepreneurship Funds (EuSEF).

On the Q&A on the AIFMD there are updated answers to the following questions:

when answering questions 148 and 149 of the consolidated reporting template, should alternative investment fund managers (AIFMs) include repo and reverse repurchase agreements?
AIFMs shall report the value of collateral and other credit support posted to all counterparties (questions 157 to 159 of the consolidated reporting template). Should AIFMs include collateral passed to a clearing member for transmission to a central counterparty in these questions?
how should AIFMs calculate the turnover expressed in notional value for derivative instruments (question 127 of the consolidated reporting template)?;
in which categories should AIFMs allocate sovereign bonds which fall in the categories ‘Non-G10 with 0-1 year/1 year+ term to maturity’ and also in the categories ‘EU bonds with 0-1 year/1 year + term to maturity’?
should AIFMs include short derivative positions in the calculation of the total value of assets under management?
should AIFMs include short non-derivative positions for the calculation of the total value of assets under management?

On the Q&A concerning the EuVECA and EuSEF there are updated answers to the following questions:

can AIFMs above the threshold of Article 3(2)(b) of the AIFMD manage and market EuSEF and EuVECA?
which provision should apply to AIFMs above the threshold of Article 3(2)(b) of the AIFMD that manage and market EuSEF and EuVECA?