417. Regulation of the Financial Market Supervisory Authority (FMA) on the breakdown of quarterly reports (quarterly reporting regulation 2012-QMV 2012)

On the basis of § 36 (4) of the Pensionskassengesetz-PKG, BGBl. No. 281/1990, as last amended by the Federal Law BGBl. I No 77/2011, shall be arranged:

Outline of the Quarterly ID

§ 1. In accordance with Section 36 (2) of the PKG, pension funds have to submit a quarterly document to the Financial Market Supervisory Authority (FMA) within three weeks of the end of each calendar quarter. The quarterly pass contains per investment and risk community

1.		an asset card according to the Annex ,
2.		proof of compliance with § 25 and § 25a PKG,
3.		proof of the actual existence of at least 90 vH of the assets belonging to an investment and risk community; and
4.		an outline of the assets directly allocated to an investment and risk community.

Approach and enforcement of assets

§ 2. (1) Assets must be shown with their current market value in accordance with § 23 PKG; derivative assets as well as derivative components are to be rejected with their market-consistent economic content (Exposure).

(2) In the sense of Section 25 (8) of the PKG, apportionments in shares of investment funds and real estate funds shall be based on the investment categories in accordance with the Annex (through). Further calculations shall be carried out until each asset is exclusively defined as an investment category in accordance with the Annex can be assigned. Likewise, apportions are to be divided into shares in non-listed companies, the predominant business of which is the investment of the capital invested. Structured securities, the economic components of which are subject to different investment categories in accordance with the Annex shall be apported.

(3) If a calculation is not economically reasonable, assets and assets may be allocated in a simplified manner to the most risk-risk category in accordance with legal and contractual provisions.

(4) Aborted claims for earnings are the source of the assessment category in accordance with the Annex to be added.

Approach of derivative financial instruments

§ 3. (1) In accordance with Section 23 (1) Z 6 PKG, apportionment in derivative financial instruments shall be applied taking into account the underlying value. For the calculation of the basic value, the modalities of the Commitment Approach are in accordance with the 4. Derivatives-Risk calculation and reporting regulation, BGBl. II No 266/2011.

(2) In the case of netting in accordance with § 7 (2) of the 4. Derivatives-Risk calculation and reporting regulation is a netting of assets exclusively within one and the same investment fund or other special assets within the meaning of the investment fund law 2011-InvFG 2011, BGBl. I No 77/2011. Security measures pursuant to § 7 (3) of the 4. Derivatives-Risk calculation and reporting regulation are the appropriate investment categories according to the Annex , and do not reduce the total value of other assets for the calculation of the investment limits referred to in § 25 PKG.

Provisions for the review of the predisposition rules

§ 4. The examination of the provisions for the assessment pursuant to § 25 (5) and (7) of the PKG has to be carried out on a single-value paper level per investment and risk community. If the collection of all issuers is not economically reasonable, the pension fund can demonstrate compliance with the investment rules in accordance with § 25 (5) and (7) PKG by means of mathematical calculations. In the case of special funds within the meaning of § 163 InvFG 2011, all issuers are to be raised.

Documentation requirements

§ 5. The information and assessments used for the distribution according to Article 2 (2) of the Regulation on the various categories of assessment referred to in Annex are to be documented in a comprehensible way. Similarly, the simplified division according to § 2 (3) and the methodology for the mathematical calculation referred to in § 4 shall be documented accordingly.

Reporting provisions

§ 6. The notifications in accordance with § 1 shall be submitted electronically to the FMA in a standardised form, including all data specifications and characteristics required for the supervision of pension funds. The record characteristics, including the record build-up as well as the technical transmission specifications, must be adhered to.

Transitional and final provisions

§ 7. (1) This Regulation shall enter into force 1. Jänner 2012 in force. The provisions of this Regulation shall be applied for the first time to the reporting date of 31 March 2012.

(2) The Regulation of the Financial Market Supervisory Authority (FMA) concerning the breakdown of quarterly statements in accordance with Section 36 (4) of the Pensionskassengesetz (Quarterly Reporting Ordinance), BGBl. II No 382/2005, in the version of the BGBl Regulation. II No 272/2011, will expire on 31 December 2011 and shall be applied for the last time to the reporting date of 31 December 2011.

(3) Where reference is made in this Regulation to provisions of other Regulations of the Financial Market Supervisory Authority, they shall be applied in their respective versions.

Ettl Pribil