The European Securities and Markets Authority (ESMA) has launched a discussion paper to gather feedback on integrating funds reporting to reduce the burden on market participants. Currently, funds reporting in the asset management sector is fragmented due to multiple reporting regimes at national and European levels, resulting in high compliance burdens. The discussion paper outlines options to improve reporting, including integrating multiple reporting templates and centralizing reporting processes and infrastructures. This initiative is part of ESMA's simplification and burden reduction effort, aiming to simplify, harmonize, and eliminate barriers in the financial sector while preserving financial stability, orderly markets, and investor protection. ESMA is shifting from technical sectorial amendments to a comprehensive approach in funds supervisory reporting, similar to financial transaction reporting. The authority welcomes input on the discussion paper until September 21, 2025, and will assess the costs and benefits of the approaches presented. The final report is expected to be published in April 2026. The discussion paper is part of ESMA's effort to reduce the compliance burden on market participants. The authority is seeking to identify solutions to improve different aspects of reporting, including the scope of data and reporting processes. The goal is to ensure more efficient reporting and sharing of data between authorities. By integrating funds reporting, ESMA aims to create a more streamlined and efficient reporting system.