EUROPEAN UNION: ESMA publishes Question and Answers on ETFs and other UCITS issues

Friday March 15 2013

Further to the publication by ESMA on 18 December 2012 of the official translations of guidelines on ETFs and other UCITS issues, ESMA, on 15 March 2013, published a Q&A on the same topic.

The Q&A are intended to promote common supervisory approaches and practices in the application of the UCITS Directive and its implementing measures, with a specific focus on the guidelines on ETFs and other UCITS issues (ESMA/2012/832). It does this by providing responses to questions posed by the general public and competent authorities in relation to the practical application of those guidelines.

The Q&A are aimed at competent authorities under UCITS to ensure that in their supervisory activities their actions are converging along the lines of the responses adopted by ESMA. However, the answers are also intended to help UCITS management companies by providing clarity as to the content of the UCITS rules, rather than creating an extra layer of requirements.

Please see the below link for more details: