Question ID: 421
Regulation Reference: (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities
Article: 35
Template: S.06.02
Status: Final
Date of submission: 17 Dec 2015
Question
In the draft EIOPA-CP-14-047-Annex there is a validation 387. This validation requires all funds that are on S.06.03 to be reported on S.06.02 as well. However, from our understanding, for group report S.06.03 the elimination of IGTs does not apply. We can imagine the case where mutual fund issued by entity within group will be eliminated on S.06.02 but will be reported on S.06.03. Could you please verify our understanding and assess the correctness of the validation 387?
validation 387: FOR EACH COMBINATION S.06.03.b.C0040/S.06.03.b.C0050 MUST EXIST A COMBINATION S.06.02.b.Table2.C0040/S.06.02.b.Table2.C0050 WHERE (S.06.02.b.Table2.C0040 = S.06.03.b.C0040 AND S.06.02.b.Table2.C0050 = S.06.03.b.C0050))
EIOPA answer
Template S.06.03 shall include the look-through of all collective investment undertakings, or investments packaged as funds and similar undertakings, including when they are participations by underlying asset category, reported item-by-item in S.06.02.
The template S.06.03 is complementary to template S.06.02. If at group level a CIU is not reported at S.06.02 due to elimination of IGTs then it should also not be reported in template S.06.03. The purpose of template S.06.03 is to provide information on the risks of the CIU in the Balance-sheet of the undertaking/group.
Please note that in addition the relevant IGT should be reported, when significant, in the relevant IGT template.