VI. Transitional arrangements (Article 61 of the AIFMD)

10. In order to determine the nature and timing of their reporting obligations for the period starting 22 July 2013, existing AIFMs should take into account: i) the transitional provisions of Article 61(1) of the AIFMD; ii) the European Commission's interpretation of Article 61(1) as set out in its Q&A [http://ec.europa.eu/yqol/index.cfm?fuseaction=legislation.show&lid=9]; and iii) their authorisation status. When existing AIFMs become subject to the reporting obligations, they should report the information required under Article 24 of the AIFMD in accordance with the procedure set out under paragraph 12 below. After the first cycle of reporting to NCAs, existing AIFMs should report according to the reporting frequency specified in paragraph 8 of the guidelines above.