Liquidity Stress Tests – ESMA’s Guidance for Investment Funds

Fund managers will be subject to new liquidity stress testing requirements from 30 September 2020 according to recent guidelines published by ESMA.

The new Guidelines on liquidity stress testing in UCITS and AIFs (the “Guidelines”) will apply in addition to the existing requirements on liquidity stress testing set out in the Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for Collective Investments in Transferable Securities (UCITS) Directive. 

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