UCITS Directive – Global Investment Law Watch

EU Commission announces much anticipated political agreement on AIFMD 2

Aug 03 2023

On 20 July, the European Commission announced political agreement between the European Parliament and the European Council on proposed amendments to the EU’s Alternative Investment Fund Managers Directive (AIFMD). This follows the Commission’s proposal in the form of a draft directive amending AIFMD (AIFMD 2) issued in November 2021, protracted negotiations between the Commission, the Council and the European Parliament since 8 March of this year, and the issuance in June of a compromise text by the Council.

Europe: Central Bank’s Dear CEO Letter Highlights Actions to be Addressed by FMCs and AIFMs Without Delay

Apr 28 2023

By Gayle Bowen and Áine Ní Riain

On 24 March, the Central Bank of Ireland issued a “Dear Chair” letter following its review in 2021 of the costs and fees charged to UCITS as part of the ESMA Common Supervisory Action (the CSA).

The letter, which is addressed to Irish UCITS fund management companies (FMCs), sets out the Central Bank’s main findings from the 2021 review and its expectations on actions to be taken by FMCs to address deficiencies identified. Despite the focus being on UCITS FMCs, the Central Bank specifically emphasises that it will expect its findings and actions to be considered also by Irish AIFMs with reference to AIFs under management.

Europe: Important Issues Still Open for Debate in EU’s AIFMD and UCITS Reviews

Feb 28 2023

By Giovanni Campi

On 24 January 2023, the ECON Committee of the EU Parliament adopted its report on proposed amendments to the EU’s main fund rules, AIFMD and the UCITS Directive, ahead of trilogue negotiations with the EU Council and Commission set to begin in March. When agreed, the revised Directives are expected to come into force in 2025 in light of the 24 months transposition period. Notable proposals include:

Tag:UCITS Directive