ESMA Announces Amendments to Validations of Technical Instructions for Reporting

The European Securities and Markets Authority (ESMA), the EU's Securities Markets regulator today published an announcement about the update of the validations of the technical instructions for reporting under the Money Market Funds Regulation (MMFR).

ESMA amended the validations according to feedback received by the market actors after publishing the validation rules. The changes are not unrelated to the XML schemas. Instead, they only clarify existing rules in order to keep the provisions consistent and make the instructions more understandable. Rules for data processing schedule announced earlier remain unchanged.

Changes are made in money market fund report, technical guidance, XSD change, stress testing scenario code.

The Article 37 of MMF regulation stipulates that "managers of merged MMFs should provide the last report of the MMF to their NCA not later than 30 days after the end of the quarter in which the MMF has been merged", who will then transmit this to ESMA. As mentioned above, after the amendment, the deadline for MMF Managers to submit a report for both Q1 and Q2 reporting periods is still September 2020.

ESMA published updated reporting instructions to be used for reporting under the MMFR on June 4, 2020 and validations rules applicable to SFTR reports on October 31, 2019.