As of 1 January 2023, the reporting obligation for third country alternative investment fund managers (AIFMs) and alternative investment funds (AIFs) will start to apply. Non-EU AIFMs and AIFs will be required to report to the Dutch Authority for Financial Markets (Autoriteit Financiële Markten, the AFM) on their funds and management activities. This reporting obligation follows from the Alternative Investment Fund Managers Directive (Directive 2011/61/EU, AIFMD).
The reporting obligation applies to AIFMs and AIFs that are established outside of the European Union and submitted a notification to the AFM under one of the following articles:
- Article 1:13b (1) and (2) of the Act on the Financial Supervision (Wet op het financieel toezicht, the AFS);
- Article 2:66 AFS;
- Article 36 AIFMD; or
- Article 42 AIFMD.
The AFM calls on third country AIF(M)s to register for an account in the AFM Digital Portal, as the reports must be submitted via this portal. The AFM stresses that this needs to be done as soon as possible in order to avoid any delays in reporting. Notified third country AIF(M)s are obliged to submit their first reports to the AFM in April 2023. The AFM will not be performing Data Quality Engagement Framework checks on the 2023 reports submitted by third country AIF(M)s.