The Spanish Securities Commission (CNMV) has launched a public consultation on a draft new circular setting statistical reporting requirements on the assets and liabilities of European Union collective investment institutions. The proposal would align CNMV reporting with European Central Bank Regulation (EU) 2024/1988 and replace CNMV Circulars 5/2014 and 5/2008. Under the draft, all collective investment institutions would be required to submit “Other Financial Institutions” (OFI) returns, including money market funds, venture capital entities and other types of closed-end collective investment entities. Existing OFI reporting templates would be amended and new returns added both to meet Regulation (EU) 2024/1988 and to collect additional data needed for European Central Bank Regulation (EU) 1011/2012 on securities holdings statistics, which is currently collected by the Bank of Spain under its Circular 3/2013. The draft also sets out the general approach for determining size-based exemptions and specifies that failures to report may be sanctionable under the European Central Bank Statistical Regulation (Regulation 2533/1998), without prejudice to the sanctioning regime under Spain’s Collective Investment Institutions Law 35/2003. Comments can be submitted until 14 May 2025. CNMV will publish submissions after the consultation closes unless respondents explicitly request that all or part of their comments not be made public.

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