ESMA Q&A On Guidelines To ETFs And Other UCITS Issues

Author:Mr Fionán Breathnach and Mark Browne
Profession:Mason Hayes & Curran

On 15 March 2013, the European Securities and Markets Authority (ESMA) issued a questions and answers paper (theQ&A) on its guidelines on exchange traded funds and other issues relating to undertakings for collective investment in transferable securities (UCITS) (theESMA Guidelines). The Q&A consists of a number of questions posed by the general public and competent authorities on the implementation of the ESMA Guidelines. The purpose of the Q&A is to ensure that competent authorities ensure their actions are aligned with the ESMA Guidelines, as well as ensuring that UCITS management companies are provided with clarity as to the UCITS rules. The Q&A currently consists of 8 questions and the requisite responses. The Q&A will be subject to regular review by ESMA so that it can be determined if the publication of additional ESMA guidelines or recommendations is required. The 8 questions cover the...

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