ESMA publishes consolidated UCITS Q&A

Maria Chetcuti-Cauchi | Published on 17 Mar 2016

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On 1st February 2016, the European Securities and Markets Authority (ESMA) published a consolidated Questions and Answers (Q&A) on the application of the Undertakings for the Collective Investment In Transferable Securities (UCITS) Directive. 

The consolidated Q&A include new questions on additional documents funds need to provide for UCITS V. This new Q&A also brings together the following four existing ESMA Q&As on UCITS:

  • The Key Investor Information Document (KIID) for UCITS (2015/631);
  • Q&A on ESMA’s guidelines on ETFs and other UCITS issues (2015/12);
  • Notification of UCITS and exchange of information between competent authorities (2012/428); and
  • Risk Measurement and Calculation of Global Exposure and Counterparty Risk for UCITS (2013/1950).

The UCITS Q&As are a handy tool promoting common supervisory approaches across Member States. This latest version combines all Q&As previously issued by ESMA on the UCITS regime. 

The UCITS Directive is a harmonised framework for funds targeted at retail investors throughout the EU. This means that funds authorised in one EU State can be marketed in another EU State using a passporting mechanism. 

More information can be found here.


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