SEBI Circular No.: SEBI/HO/AFD/SEC-1/P/CIR/2023/0155 dated September 14, 2023
SEBI Reporting File Format : Download here
In terms of Regulation 28 of SEBI (AIF) Regulations, 2012 read with Clause 15.1 of SEBI Master Circular for AIFs dated July 31, 2023, AIFs shall submit quarterly reports to SEBI in the formats specified with respect to the activities carried on by the AIFs.
In order to introduce uniform compliance standard in the AIF Industry, AIF Industry Associations – Indian Venture and Alternate Capital Association (IVCA) and Equalifi (hereinafter referred to as ‘association’) after reviewing existing format for quarterly reporting has prepared a revised format. In this connection, the circular amends the timelines and relevant practice for filing the above reporting as below:
AIFs shall submit the quarterly report on the SEBI Intermediary Portal (SI Portal) in the revised format as per the following timelines:
| Timeline for Quarterly Filing | ||
| Reports for the respective Quarter | Existing due date to file Quarterly Report | Revised due date to file Quarterly Report (to be filed in revised format) |
| Reports filed for the quarter ended June 30, 2023 | Already filed within the due date. | To be re-filed in the revised format (to be stipulated by SEBI) by October 15, 2023 |
| Reports to be filed for quarter ended September 30, 2023 | Within 10 days from the end of the quarter. i.e., (until October 10, 2023) | To be filed in the revised format by November 15, 2023 |
| Reports to be filed for quarter ended December 31, 2023 | Within 10 days from the end of the quarter. i.e., (until January 10, 2024) | To be filed on an on-going basis within 15 days of the end of respective quarter till stated otherwise |
The aforesaid reporting format shall be reviewed periodically by association / any AIF standard Setting Forum in consultation with SEBI. In case of any revisions in the reporting format, revised format shall be made available on websites of association / the AIF Standard Setting Forum at least 1month prior to end of the quarter.
Key points of modified SEBI reporting format file
>> New reporting captures details of investor consent taken- therefore wherever 2/3rd majority or any other approval is required from investor statutorily, thoses needs to be reported.
>> Details of fees and expenses for investor onboarded along with trail basis/ upfront commissions details to be reported. This ensures Fund maintains the proper record of working
>> Captures details of non – compliance reported by Compliance officer. As per recent SEBI amendment, any non compliance is to be reported to SEBI by compliance officer. By making summary of such non compliance reported in SEBI reporting makes Compliance officer more responsible
>> Reporting also captures borrowing details and liquidation scheme details
