Friday February 22 2013

News Source: Fund Regulation

Focus: Other

Type: General

Country: France




22 February 2013

The Autorité des Marchés Financiers (AMF) has adopted in Position No. 2013-06 the guidelines issued by the European Securities and Markets Authority (ESMA) on exchange-traded funds (ETFs) and other issues related to Undertakings for Collective Investment in Transferable Securities (UCITS).

Based on the UCITS Directive (2009/65/EC), the ESMA guidelines explain how European legislation is to be applied in particular to the management of UCITS compliant with Directive 2009/65/EC.

The guidelines have been incorporated into the AMF`s position and give details concerning:

  • the information to be supplied to investors about index funds and ETFs;
  • the special rules that UCITS have to apply if they use over-the-counter derivatives and efficient portfolio management techniques;
  • the criteria for financial indices in which UCITS invest;
  • implementation deadlines, particularly for existing UCITS.

Please see the below link for more details: