EU Regulatory Updates for Funds and Fund Managers
Over the last few weeks, there have been several key developments with potential implications for funds and fund managers. These include, in particular:
- a discussion paper on UCITS share classes, guidelines on UCITS remuneration and an opinion on loan origination by investment funds issued by the European Securities and Markets Authority (“ESMA”);
- Regulatory Technical Standards (“RTS”) on the contents of the Key information document (“KID”) required under Regulation 1286/2014 on Key Information Documents for Packaged Retail and Insurance-based Investment Products (the “PRIIPs Regulation”), published by the Joint Committee of the European Supervisory Authorities (“ESAs”); and
- a Delegated Regulation on UCITS depositaries’ obligations, which has been published in the European Union’s Official Journal (“OJ”).