Ucits product rules liquidity management pdf

Concerns about systemic risk and fund liquidity are driving the regulatory agenda. The esma guidelines apply to both existing and new funds from the 20th of september 2020. Ongoing supervision and general regulatory requirements. Ucits product rules, liquidity management, depositary, money market funds. Directive ucits and the alternative investment fund for managers directive aifmd are. The european directive defines liquidity risk as the risk that a position in the ucits portfolio cannot be sold, liquidated or closed at limited cost in an adequately short time frame and that the ability of the ucits to repurchase or redeem its units at the request of any unitholder is thereby compromised. Insurance commercial litigation product liability mergers and acquisitions joint ventures. Esma guidelines on liquidity stress testing, will apply to all ucits management companies.

More prescription and granularity on the liquidity rules would assist in greater harmonization across the industry and ultimately on the liquidity profiles of ucits brought to the market. Nca supervisory action on liquidity management ucits funds february 2020. Managing fund liquidity risk in europe an amicefama report. Liquidity risk measurement ucits iv deloitte luxembourg. First steps toward ucits vi the latest european commissions consultation paper on product rules, liquidity management, depositary, money market funds and longterm investments, colloquially referred to as ucits vi, demonstrates the ongoing regulatory scrutiny and is paving the way for further improvements of the ucits framework. Product rules, liquidity management, depositary, money. Product rules, liquidity management, depositary, money market funds, longterm investments. This refers to a regulatory framework that allows for the sale of crosseurope mutual funds. Ec consultation document ucits product rules, liquidity.