In today’s compliance-intensive fund environment, transparency, data integrity and regulatory readiness are non-negotiable. For Irish-domiciled investment funds and money market funds, the upcoming changes to the “MMIF” regime mark a major shift in how regulatory reporting will work.
If you’re a fund manager or administrator, understanding these changes now will help you avoid a last-minute scramble and turn what looks like a compliance burden into a strategic opportunity.
Understanding MMIF Reporting
MMIF stands for Money Market and Investment Funds Return. It’s report that Irish-domiciled investment funds are required to submit to the Central Bank of Ireland (CBI).
These funds include both UCITS (Undertakings for Collective Investment in Transferable Securities) and AIFs (Alternative Investment Funds) that have had at least one non-zero monthly Net Asset Value (NAV) return during a calendar quarter.
The requirement for this report comes from the European Central Bank’s (ECB) updated statistics regulation (ECB/2024/17), which is enforced in Ireland by the CBI.
Key changes you need to know
- The existing MMIF return (quarterly, Excel-based) will be replaced by a new XML-based template.
- The reporting frequency is moving towards monthly for investment funds (starting mid-2026) rather than only quarterly.
- Submission deadlines become tighter. Some indications suggest Money Market Funds may need to submit within T+8 business days, investment funds by T+12 business days (per CBI guidance) for the new regime.
What Information Will Be Captured?
Under the new MMIF regime, you’ll need to provide far greater granularity of data in several areas:
- Fund Level Metadata: Static legal and organisational data for each fund.
- Portfolio data: Asset breakdowns, liabilities, transaction level details, issuer & counterparty classifications, maturity profiles.
- Investors/investor categories: Investor types, counts, Politically Exposed Person (PEP) status and concentration metrics.
- Liquidity, credit and risk metrics: For money market funds, especially, more detailed disclosures around liquidity and risk exposures.
- AML/AML-REQ section: As noted, a separate questionnaire/return capturing anti-money laundering risk data will be required.
Why MMIF Changes Matter (and Why Now)
- Enhanced regulatory oversight
Regulators such as the CBI now demand more frequent, detailed, and automated data submissions, making it critical to provide timely, accurate information. Any lapse could lead to rapid intervention, as regulators gain unprecedented real-time oversight.
- Operational and data discipline
Monthly submissions and XML-schemas demand stronger data governance, internal controls, and technology readiness. Manual, spreadsheet-heavy workflows will struggle to keep pace.
- Compliance risk is higher
Invalid or late filings under the new regime expose firms to supervisory follow-up, reputational risk and operational disruption. The shift from quarterly to monthly means less margin for error.
- Strategic advantage
Funds that prepare early can use this as a differentiator: demonstrating strong governance, high-quality data and robust operations can support investor confidence and service-level differentiation.
Challenges Ahead
- Data sourcing & integration: Consolidating investor, fund accounting, risk, compliance, and static data into a single, reliable data pipeline remains complex and resource intensive.
- Technical schema / XML expertise: Transitioning from Excel templates to XML schemas requires new technical workflows, validation engines and submission pipelines.
- Shorter timeframes: Monthly reporting deadlines compress review cycles and leave limited room for manual data adjustments.
- Continuous monitoring of regulatory updates: National authorities may issue updates to taxonomies, validations or deadlines — systems need to be flexible.
- AML/AML-REQ readiness: The new AML-related questionnaires demand robust investor-level data (e.g. PEP status) and controls that many funds may not yet have in place.
How DataTracks Simplifies the Transition
Ease into the change with DataTracks Oxbow, a modern regulatory reporting platform designed to help you seamlessly comply with the new MMIF regime. DataTracks Oxbow enables effective reporting through:
- Built-in XML generation: aligned with the CBI taxonomies and validation rules, including the schema updates ensuring long-term compliance
- Seamless data integration: from multiple internal systems (fund accounting, investor onboarding, TA/transfer agent, risk).
- Automated validation engine: with schema checks, reasonableness checks and error-prevention prior to submission.
- Comprehensive workflow tools: from version control and audit trail to collaborative features and more to support preparers, reviewers and approvers.
- Cloud-Based Advantage: Provides enterprise-grade security, high availability, and anywhere access – ensuring reliable, compliant reporting under tight timelines.
- Dedicated Support: 24*7 customer service with domain experts available on demand to resolve technical or regulatory queries quickly.
- Seamless Integration: Enables easy integration with other fund reporting obligations like AIFMD, UCITS, and AML-REQ, creating a unified compliance ecosystem.
Bottom Line
The MMIF reporting framework is entering a new phase: one defined by greater frequency, granularity and automation. For Irish-domiciled funds and money market funds, early preparation is essential.
By establishing robust data pipelines, investing in technology ahead of time and aligning internal processes, firms can turn MMIF compliance from a regulatory obligation into a strategic advantage, thereby strengthening governance, distinguishing operations and positioning themselves for the next wave of transparency requirements.
Future-Proof Your MMIF Reporting
Stay ahead of the upcoming CBI MMIF deadlines with confidence. Reach out to DataTracks and see how we streamline XML-based submissions, validation, audit-ready workflows and full regulatory alignment.
Get in touch at contact@datatracks.com or call +31 20 2253702
