ESMA has published the long awaited consultation on guidelines on reporting obligations required of AIFMs in respect of the portfolio of the AIFs they manage or market in the EU. A reporting template is set out in the AIFMD level 2 delegated regulation, but ESMA would like to standardise the format of information AIFMs send to their home state regulator. The proposed guidelines set out the information that AIFMs should report to home state regulators as well as the timing of making reports. ESMA recommends that reporting periods be aligned with the calendar year. The consultation is open until 1 July 2013.