On the 29th March 2019, the European Securities and Markets Authority (ESMA) published an updated version of the Questions and Answers (Q&As) on the application of the UCITS directive. The updated Q&As clarify the UCITS KIID benchmark and past performance obligations as follows: ESMA Confirms in question 4b that whenever a UCITS refers to a […]

The European Securities and Markets Authority (“ESMA”) has published its final guidelines on the remuneration requirements of the UCITS V directive. http://bit.ly/229d2IN The key issue addressed by ESMA is the ability for smaller or less complex managers to disapply certain of the more onerous remuneration requirements (including the “Pay Out Process Rules”) on the basis […]

On 13 May 2013, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published the report on UCITS V that it voted to adopt on 21 March 2013. The report contains a draft legislative resolution for the European Parliament with proposed amendments to the UCITS V legislative proposals. The European Parliament is scheduled to consider […]