78. Articles 9(1b), (1c) and (1d) introduce as well allocation of responsibility for reporting for funds towards their respective fund manager in certain circumstances. In these cases, it is considered that the fund managers have all relevant details available in their respective roles and that the compliance with the provisions on allocation of responsibility for reporting can be ensured in accordance with the regulation.

79. As an illustration, please refer to the Table 2 below.

Table 2 [view table in PDF]

80. In the particular case where a fund that qualifies as an FC enters into an OTC derivative with an NFC-, the provision on allocation of responsibility for reporting in the Article 9(1) and the clarifications thereof in the related guidelines under section 5.4.2 hierboven apply for the OTC derivative from the side of the counterparty. Therefore, in such a situation:

81. The Fund Manager is responsible and legally liable to report the OTC derivative on behalf of the fund;

82. The Fund is responsible and legally liable to report the OTC derivative on behalf of the NFC-.