Tag Archives: UCITS

ESMA updates funds FAQs

ESMA has updated its FAQs on the AIFMD and the UCITS Directive. Both address the exemption for intra-group transactions for the purposes of EMIR. The AIFMD set also addresses notifications of AIFs domiciled in another Member State and on reporting to supervisors on the breakdown between retail and professional investors.

ESMA reports on fund notifications

ESMA has published a report on notification frameworks and home-host responsibilities under the UCITS and AIFMD regimes. It carried out a study looking at the cross-border management and marketing activities of UCITS and their managers. It found many examples of good practice by supervisors and firms.  A similar study looking at the mirroring activities of […]

ESMA updates funds FAQs

ESMA has updated its FAQs on AIFMD and UCITS. The additions focus on: clarifying that the AIFMD marketing passport under Article 32 AIFMD can be used only for marketing to professional investors as defined in AIFMD and cannot include any additional categories of investor that individual Member States have introduced (such as “qualifying” or “semi-professional”); and […]

ESMA updates funds FAQs

ESMA has published updates to its FAQs on: the AIFMD: this includes questions on whether creating a new share class of an AIF which is to marketed cross-border with existing share classes, constitutes a material change to the original notification and a confirmation that where an AIFM notifies a material change to a notification it […]

ESMA publishes fund remuneration guidelines

ESMA has published its guidelines on remuneration practices under the AIFMD and for UCITS. The guidelines are new for UCITS management companies, and amended for AIFMs to address how to apply the rules in a group context where some group members are banks. The guidelines apply from 1 January 2017.

ESMA updates funds FAQs

In early October, ESMA updated its FAQs on the AIFMD in respect of the impact of the SFTR on AIFM reporting, and its FAQs on UCITS in respect of this and other questions including on regulated markets and reinvestment of cash collateral.