This letter deals with independent valuations what the FSC considers to be good practice in this area.

With the bringing into effect of the Crimes Act 2011 a number of new and revised financial crimes were introduced into the statute books. This letter aims to provide regulated firms with guidance on our expectations of the systems of control that we expect to see in regulated firms in this respect.

The purpose of this letter is to provide details of FSC expectations on additional disclosures to be included in Audited Financial Statements that is in the best interest of investors.

In accordance with Regulation 12 of the Regulations, a return must be submitted on an annual basis by the administrator in respect of each experienced investor fund. The EIF Return should be submitted to the Commission within 6 months of the end of a fund's accounting period.

Experienced Investor Fund Return Notes for Completion.

Beginning with the 2016/17 filing period, the GFSC will only accept ESMA compliant XML files for the purposes of AIFMD Reporting, articles 3.3.D, 24.1, 24.2 and 24.4. The following rules apply:

• Self-managed AIFMs need to submit one AIFM file and one AIF file.
• Self-managed AIFMs (PCC’s) need to submit one AIFM file and one AIF file per Cell.
• Externally managed AIFMs need to submit one AIFM file and one AIF File per Fund under management.

The ESMA specific XML technical guidance for the file format can be found here.

Please remember that the format for saving the .XML AIFMD reporting files for submissions at end of January 2017 is the same as last year;

The AIF file: 00000_AIF_yyyymmdd_hhmm (Fund identifier_AIF_year/month/day_hour/minute) The AIFM file: 00000_AIFM_ yyyymmdd_hhmm (Fund identifier_AIFM_year/month/day_hour/minute) *If you are receiving your XML files from an external party, you should relay the saving format to them, or alternatelively, re-save each file using the saving format above. *New for this year (January 2017 reporting) is that you MUST include the following words in the title of the email: AIFMD 2017 Returns The reason for this is that our system automatically picks up and processes XML file attachments based on the above wording in the title of the email.

File submission mechanism: The ESMA compliant XML files have to be submitted via Email, either individually or bundled into Zip files. Note that we also accept multiple returns bundled into one XML file. Please send all forms and queries to: AIFMD@fsc.gi.

List of unique Gibraltar identifier codes for AIFMs, AIFs and Cells.

Experienced Investor Fund Director Return for Completion

Please submit your forms by 30 November 2020

 

Financial Services Guidance Note No. 2

Guidelines to competent authorities and UCITS management companies on risk measurement and the calculation of global exposure for certain types of structured UCITS

Guidelines on ETFs and other UCITS issues

Implementing Directive 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements.

Amending Commission Regulation (EC) 809/2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards information contained in prospectuses as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements.

Amending Regulation (EC) No 809/2004 implementing Directive 2003/71/EC of the European Parliament and of the Council as regards financial information in prospectuses where the issuer has a complex financial history or has made a significant financial commitment.

Implementing Directive 2009/65/EC of the European Parliament and of the Council as regards key investor information and conditions to be met when providing key investor information or the prospectus in a durable medium other than paper or by means of a website

Implementing Directive 2009/65/EC of the European Parliament and of the Council as regards the form and content of the standard notification letter and UCITS attestation, the use of electronic communication between competent authorities for the purpose of notification, and procedures for on-the-spot verifications and investigations and the exchange of information between competent authorities

Amending Regulation (EC) No 809/2004 as regards information on the consent to use of the prospectus, information on underlying indexes and the requirement for a report prepared by independent accountants or auditors.

COMMISSION DELEGATED REGULATION of 19 December 2012 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to exemptions, general operating conditions, depositaries, leverage, transparency and supervision

REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 17 April 2013 on European venture capital funds

REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 17 April 2013 on European social entrepreneurship funds

Regulation establishing the procedure for AIFMs which choose to opt in under Directive 2011/61/EU

Regulation establishing a procedure for determining the Member State of reference of a non-EU AIFM pursuant to Directive 2011/61/EU

COMMISSION DELEGATED REGULATION of 17 December 2013 supplementing Directive 2011/61/EU of the European Parliament and of the Council of June 8 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and regulations (EC) No 1060/2009 and (EU) No 1095/2010, and in particular Article 4(4) therof.

Improving Global AML/CFT Compliance: on-going process.

Improving Global AML/CFT Compliance: on-going process.

Improving Global AML/CFT Compliance: on-going process.

Improving Global AML/CFT Compliance: on-going process

David Parody

Marcus Killick

Marcus Killick

GACO - David Parody

GACO - David Parody

Marcus Killick

Slides, case study and templates for the GACO workshop held on 14 November 2012 by the FSC

Slides for the GFIA seminar held on 7 November 2012 by the FSC

Slides from an FSC seminar held on 20th June 2013 by Joanne Beiso