ESMA consults on performance fee guidelines for retail funds LeapRate

July 16, 2019 BY Valentina Kirilova

ESMA consults on performance fee guidelines for retail funds

Busy days for the EU’s securities markets’ regulator ESMA, as the regulator has just published a public consultation on draft guidelines on performance fees under the Undertakings for Collective Investments in Transferable Securities (UCITS) Directive. LeapRate reminds that last week, ESMA has published a statement, addressed to providers marketing, distributing or selling CFDs to retail…

July 30, 2018 BY Valentina Kirilova

ESMA finds shortcomings in national supervision of efficient portfolio management by UCITS

The European Securities and Markets Authority (ESMA) has informed that it has found that national regulators need to improve their supervision of Undertakings for Collective Investments in Transferable Securities (UCITS) engaging in efficient portfolio management techniques (EPM). A recent peer review by ESMA, which assessed the level of compliance of six national competent authorities (NCAs)…

February 13, 2017 BY Valentina Kirilova

ESMA issues an opinion on share classes of UCITS

On 30 January 2017, ESMA has issued an Opinion, addressed to national regulators in order to ensure a harmonised approach across the EU, in which it sets out the following four high-level principles which UCITS must follow when setting up different share classes: common investment objective; non-contagion; pre-determination; and transparency. It should be noted that…

November 21, 2016 BY Valentina Kirilova

ESMA publishes updated UCITS Q&A

The European Securities and Markets Authority (ESMA) has published an updated questions and answers document on the application of the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS). The Q&A includes two new questions and answers on how investment limits should be applied where a UCITS wants to invest in an umbrella fund.…

October 12, 2016 BY Valentina Kirilova

ESMA publishes updated UCITS Q&A

The European Securities and Markets Authority (ESMA) has published an updated questions and answers (Q&A) document on the application of the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS). The Q&A includes four new questions and answers on: regulated markets in Member States under the UCITS Directive, translation requirements in relation to the…

July 15, 2016 BY Valentina Kirilova

ESMA Consults on Asset Segregation and Custody Services under AIFMD and UCITS

The European Securities and Markets Authority (ESMA) has published a Call for Evidence on Asset Segregation and Custody Services under the Alternative Investment Fund Managers Directive (AIFMD) and the Directive on Undertakings for Collective Investment in Transferable Securities (UCITS Directive). ESMA first consulted on asset segregation under the AIFMD in December 2014 (Guidelines on asset…

Tag: UCITS