Money market funds
The CBI published a notice of intention in relation to the ESMA “Guidelines on stress test scenarios under the MMF Regulation”. The notice sets out that the CBI expects full compliance with the guidelines from 6 May 2024.
ESMA guidance on performance fees
ESMA updated its guidance on the calculation of performance fees for UCITS and AIFs by updating its UCITS & AIFMD Q&As. The updated guidance concerns firstly, the process to be followed where an additional reference indicator is applied to the performance fee model and, secondly, the charging of performance fees on funds of funds.
ESMA's final guidelines on ESG fund names
ESMA published its final guidelines on funds’ names using ESG or sustainability-related terms The guidelines will be translated into all EU languages and will subsequently be published on ESMA’s website. They will start applying three months after that publication with a transition period for existing funds.
ESMA’s call for evidence on UCITS eligible assets
ESMA published a call for evidence on the UCITS Eligible Assets Directive, closing Wednesday 7 August 2024. ESMA will then develop its technical advice to the European Commission.
UK roadmap for the overseas funds regime
The UK Financial Conduct Authority and HM Treasury jointly issued a roadmap to explain how the overseas funds regime is to be opened to European Economic Area funds authorised under the UCITS Directive. This follows the UK Government’s decision to grant equivalence in relation to those funds (with the exception of money market funds).
Macroprudential policy for NBFIs - consultation
The EU Commission opened a consultation on its review of non-bank financial intermediation (NBFI) which closes 22 November 2024. It also launched a webpage on macroprudential policy.
For more information on these topics please contact any member of A&L Goodbody's Asset Management & Investment Funds team.
Date published: 27 June 2024
