Circular CSSF 20/734 is a CSSF circular, published 28 January 2020. Subject: New reporting obligations for money market fund managers.
\nRelevant for: Other specific authorisations, registrations and information, Part II UCIs, SIFs, UCITS.
\nKeywords: Money Market Fund (MMF).
\nLuxembourg, 28 January 2020
\nTo all managers of money market funds that fall under the supervision of the CSSF as well as to those that take part in the functioning and control of these undertakings
\nRe : New reporting obligations for money market fund managers
\nLadies and Gentlemen, The Regulation (EU) 2017/1131 of the European Parliament and of the Council of 14 June 2017 on money market funds (“MMF Regulation”) requires among others periodical information from the managers of the money market fund to competent authorities within a frequency depending on their assets under management. The reporting obligations are set out in article 37 of the MMF Regulation. On 17 April 2018 the European Commission adopted Regulation (EU) 2018/708 (“the Regulation”) laying down implementing technical standards with regard to the template to be used by managers of MMFs when reporting to competent authorities under Article 37 of the MMF Regulation. The appendix of the Regulation contains the reporting template that managers of MMFs have to use to comply with their reporting obligations. On 19 July 2019 the European Securities and Markets Authority (ESMA) published the “Guidelines on the reporting obligations to competent authorities under Article 37 of the MMF Regulation” (ref. ESMA34-49-168, “the ESMA MMF reporting guidelines”). Further details and technical supporting material (technical reporting instructions, detailed validation rules and the reporting XSD schema) were also published by ESMA (ref. ESMA65-8-6480). The present circular aims to clarify technical details that managers of MMFs need in order to fulfil their reporting obligations. Information regarding the operational issues on this reporting as for instance the reporting frequency, the reporting periods and the first reporting period can
\nbe found either in the ESMA MMF reporting guidelines or in the FAQ concerning the MMF Regulation of the CSSF website 1. Submission of the reporting files to the CSSF The CSSF requires that the reporting files are submitted electronically using exclusively one of the channels accepted by the CSSF until 30 days after the end of the corresponding quarter/year. Further details regarding the legal reporting in this respect towards the CSSF can be found on our website following the link https://www.cssf.lu/en/money-market-funds/. Specific technical aspects of this reporting are included in the appendices of this circular. For any question regarding this circular please send an email to [email]
\nClaude WAMPACH
\nMarco ZWICK
\nJean-Pierre FABER
\nFrançoise KAUTHEN
\nClaude MARX
\nAppendices Appendix 1: Files to be transmitted for the MMF reporting Appendix 2: Description of the naming convention to be respected with for the transmission of the reporting files
\nhttp://www.cssf.lu/en/supervision/ivm/money-market-funds-mmf/faq/
\npage 2 of 6
\nAppendix 1: Files to be transmitted for the MMF reporting
\nThe technical description of the files to be transmitted in the context of the MMF reporting has been defined by ESMA and can be downloaded on their website www.esma.europa.eu (menu «Rules, Databases & Library » -> «Guidelines and technical standards » -> « Main library » -> « Sections : Fund Management & Type of document : Reference » « Money Market Fund Reporting Technical Reporting Instructions » or use the reference « ESMA65-8-6480 »). This .ZIP file contains the .XSD fields which define the .XML files to be reported. Note that all text fields must be filled in in English.
\n1.1. Content of the MMF reporting file The different fields of the MMF reporting are described in the definition MMF_Regulatory_reporting_MoneyMarketFundReportV01_auth_093_001_01.xsd.
\nThe text above is the opening of the document; the PDF carries the whole.
\nDocument page, PDF. Source: Commission de Surveillance du Secteur Financier (CSSF), reproduced with the CSSF's consent. The French text prevails.
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