FinanceDublin.com - Commission proposes less directional fund regime rules than ESMA advocated

The proposals cover legislative amendments to the UCITS Directive, AIFMD and the ELTIF Regulation. They include new delegation requirements, harmonising of UCITS and AIFMD requirements, new rules around the use of liquidity management tools, loan origination and data management writes Daire Murray.

The European Commission published its much-anticipated proposal to review the AIFMD/UCITS frameworks on Thursday, 25 November 2021. Broadly, the EC is proposing changes to UCITS rules on delegation, liquidity risk management and reporting to align with AIFMD rules.

Delegation
Of particular note are the Commission’s pronouncements on delegation - it has indicated that it is not going to adopt certain delegation measures proposed by ESMA in a letter last year. T....

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