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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
20/02/2014 2014/160 Draft implementing technical standards on notification- EuVECA Fund Management Technical Standards PDF
175.99 KB
20/02/2014 2014/161 Draft implementing technical standards on notification- EuSEF Fund Management Technical Standards PDF
29.18 KB
22/07/2014 2014/876 Discussion paper- Calculation of counterparty risk by UCITS for OTC financial derivative transactions subject to clearing obligations Fund Management Consultation Paper PDF
305.08 KB
23/07/2015 2015/1172 Guidelines on sound remuneration policies under the UCITS Directive and AIFMD Fund Management Consultation Paper PDF
1.09 MB		 Reasons for publication Article 14a(4) of Directive 2009/65/EC (“UCITS Directive”), as amended by Directive 2014/91/EU (“UCITS V Directive”) provides that ESMA shall issue guidelines addressed to competent authorities or financial market participants concerning the application of the remuneration principles set out under Article 14b of the UCITS Directive (“UCITS Remuneration Guidelines”). This consultation paper represents the first step in the development of the guidelines on remuneration policies required by the UCITS V Directive and sets out ESMA’s formal proposals for these guidelines. This consultation paper also proposes a targeted revision of the Guidelines on sound remuneration policies under the AIFMD (ESMA/2013/232) (“AIFMD Remuneration Guidelines”), which were published on 3 July 2013. Contents Section 2 explains the background to this document, while Section 3 explains the working method followed by ESMA while developing the draft guidelines. Sections 4 to 7 provide an overview of the content of the draft guidelines focusing on the main areas of difference between the requirements on remuneration under Directive 2011/61/EU (“AIFMD”) and UCITS V Directive. Annex I provides for a comparison table where the relevant UCITS V provisions on remuneration are marked up against the AIFMD provisions. Annex II sets out the list of questions contained in this paper. Annex III includes the draft cost-benefit analysis for the guidelines, while Annex IV sets out the text of the draft UCITS Remuneration guidelines and Annex V sets out the proposed amendment to the AIFMD Remuneration Guidelines. Next Steps ESMA will consider the feedback it receives to this consultation with a view to finalising the UCITS Remuneration Guidelines and publishing a final report by early Q1 2016, ahead of the transposition deadline for the UCITS V Directive (i.e. 18 March 2016). The final report is expected to also include the revision of the AIFMD Remuneration Guidelines which is proposed in the present paper. The consultation period will run until 23 October 2015.
31/07/2015 2015/1239 Consultation Paper on draft regulatory technical standards under the ELTIF Regulation Fund Management Consultation Paper PDF
666.11 KB		 Responding to this paper ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex I. Comments are most helpful if they: 1.    respond to the question stated;2.    indicate the specific question to which the comment relates;3.    contain a clear rationale; and4.    describe any alternatives ESMA should consider. ESMA will consider all comments received by 14 October 2015. Responses to this consultation paper can be sent using the response form, via the ESMA website, under the heading ‘Your input/Consultations’. Publication of responses All contributions received will be published following the close of the consultation, unless you request otherwise.  Please clearly and prominently indicate in your submission any part you do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by ESMA’s Board of Appeal and the European Ombudsman. Data protection Information on data protection can be found at www.esma.europa.eu under the heading Legal Notice. Who should read this paper This document will be of interest to (i) ELTIF managers and their trade associations, (ii) alternative investment funds managers and their trade associations, as well as (iii) institutional and retail investors investing into ELTIFs and their associations.  
18/09/2015 2015/1409 Draft Implementing Technical Standards on penalties and measures under Directive 2009/65/EC (UCITS Directive) Fund Management Technical Standards PDF
339.52 KB
15/07/2016 2016/1137 Call for evidence on Asset segregation and custody services Fund Management Consultation Paper PDF
683.88 KB
21/11/2016 2016/1586 Questions and Answers on UCITS Directive Fund Management Q&A PDF
454.07 KB
16/12/2016 2016/1669 2016-1669 Q&A on AIFMD Fund Management Q&A PDF
436.68 KB
06/04/2016 2016/570 Discussion Paper on UCITS share classes Fund Management Consultation Paper PDF
495.54 KB
02/06/2016 2016/773 Discussion Paper on the Distributed Ledger Technology Applied to Securities Markets Innovation and Products, Risk Analysis & Economics - Markets Infrastructure Investors Consultation Paper PDF
573.86 KB
31/05/2016 2016/774 Q&A on the Application of the EuSEF and EuVECA Regulations Fund Management Q&A PDF
212.93 KB
05/11/2020 ESMA30-379-325 Consultation Paper- Draft advice to EC under Article 8 of the Taxonomy Regulation Sustainable finance Consultation Paper PDF
1.79 MB
20/07/2022 ESMA34-32-352 Q&A on the Application of the AIFMD Fund Management, Supervisory convergence Q&A PDF
707.65 KB
05/02/2019 ESMA34-39-784 Consultation paper on guidelines on liquidity stress testing in UCITS and AIFs Fund Management Consultation Paper PDF
377.41 KB
16/07/2019 ESMA34-39-881 Consultation paper on performance fees guidelines in ucits Fund Management Consultation Paper PDF
398.62 KB
31/03/2020 ESMA34-39-966 Consultation paper on ITS on cross-border distribution of funds Fund Management Consultation Paper PDF
341.49 KB
27/03/2020 ESMA34-39-967 Consultation paper on Guidelines on Article 25 of Directive 2011/61/EU Fund Management Consultation Paper PDF
411.64 KB
20/07/2022 ESMA34-43-392 Q&A on the application of the UCITS Directive Fund Management Q&A PDF
767.22 KB
17/05/2022 ESMA34-45-1471 CP on Draft technical standards on the notifications for cross-border marketing and management of AIFs and UCITS Fund Management Consultation Paper PDF
639.44 KB

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