ESMA publishes updated AIFMD and UCITS Q&A
The European Securities and Markets Authority (ESMA) has published updated questions and answers documents (Q&A) on the application of the Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS).
The AIFMD Q&A includes three new questions and answers on the reporting requirements for:
• Loans purchased on the secondary market;
• Conversion of the total value of assets under management; and
• Currency of the net asset value.
The UCITS Q&A include two new questions and answers on:
• Issuer concentration; and
• Group links, independence and cooling-off periods.
The purpose of these Q&A documents is to promote common supervisory approaches and practices of both the AIFMD and the UCITS Directive and their implementing measures.