Tag Archives: UCITS

Commission publishes funds distribution responses

The Commission’s consultation on cross border distribution of investment funds closed on 9 October, and the Commission has now published the 62 responses it received.

Commission asks ESAs for retail product evaluation

The Commission has published its formal request to the ESAs to report to it on the cost and past performance of the main categories of retail investment, insurance and pension products. It notes the reporting should be based on what is required under key EU legislation, and appreciates the amount of work is such that […]

ESMA speaks on financial markets

Steven Maijoor has spoken on the state of European financial markets. He spoke not only about Brexit, focussing on the need for a  strong supervisory culture, but also on the importance of building the CMU and improving understanding of trends, risks and vulnerabilities in the financial markets. He spoke about the continuing lack of trust […]

ESMA updates funds FAQs

ESMA has updated its FAQs on the AIFMD and UCITS. The AIFMD additions look are remuneration issues, and updates to both sets of guidance look at periodic reporting under the SFTR.

ESMA publishes opinion on asset segregation and depositary delegation

On 20 July ESMA published its opinion on asset segregation and the application of depositary delegation rules to central securities depositaries (CSDs). In the opinion, ESMA outlines its view on: the optimal approach to asset segregation under the AIFMD and the UCITS Directive frameworks; and how the depositary delegation rules should apply to CSDs. ESMA believes […]

ESMA updates funds FAQs

ESMA has updated its FAQs in relation to UCITS and the AIFMD. The additions relate to: on the AIFMD, reporting requirements for loans purchased on the secondary market, conversion of total value of AUM and currency of the net asset value and on UCITS, issuer concentration and group links, independence and cooling off periods.

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 […]