Regulatory Alerts2014-11-08
Circular 5/2014 by the CNMV amending Circular 5/2008 on statistical reporting requirements for assets and liabilities of EU collective investment institutions. Filling Manual Technical Requirements
The Spanish National Securities Market Commission (CNMV) issued Circular 5/2014 to amend Circular 5/2008, aligning Spanish statistical reporting requirements for collective investment institutions (CIIs) and venture capital entities (VCEs) with European Central Bank Regulation (EU) No 1073/2013 on investment fund assets and liabilities. The amendment expands the reporting scope to include VCEs and future fund types meeting the EU definition, updates the OIF statistical models, and establishes a new size-based exemption criterion where entities managing the top 95% of total assets remain fully obligated while smaller entities may qualify for reduced quarterly reporting. The revised rules mandate submission of the first updated OIF1, OIF2, and OIF3 statements for December 2014 operations and year-end balances, with exemptions taking effect from the start of each calendar year following Bank of Spain verification.