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SEBI Introduces a Circular On Regulatory Reporting by AIFs

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SEBI has recently released a circular on “Regulatory Reporting by AIFs”.

The highlights of the Circular are as follows:

1.    Quarterly Reports – AIFs shall submit quarterly report to SEBI in accordance with Regulation 28 of SEBI (AIF) Regulations, 2012 read with Clause 15.1 of SEBI Master Circular for AIFs dated July 31, 2023.

2.    Revised Reporting Format – In order to standardize compliance procedures and simplify the reporting process, SEBI partnered with industry associations, namely the Indian Venture and Alternate Capital Association (IVCA) and Equalifi to bring an updated reporting format aimed at making the reporting requirements for AIFs more efficient.

3.    Submission of Quarterly Reports – AIFs shall electronically file their quarterly reports via the SEBI Intermediary Portal (“SI Portal”) within a 15-day window following the conclusion of each quarter.

4.    Regular Assessment – The reporting format will be subject to periodic evaluations to ensure it remains in sync with the changing AIF industry dynamics. Any modifications will be accessible on the websites of IVCA and Equalifi at least one month before the end of the quarter.

5.    The deadline for submitting the quarterly report for the June 2023 quarter in the revised format is set to be October 15, 2023, while the report for the quarter ending September 30, 2023, will be submitted in the revised format by November 15, 2023. The reports shall be submitted over the SI Portal.

The SEBI circulars is enclosed for the reference of the readers.

Readers are welcome to send their views to Regstreet Law Advisors at info@regstreetlaw.com

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