Politics & Regulation

Industry responds to ESMA consultation


More than 50 banks, insurance companies, asset managers and fund associations have responded to a consultation by the European Securities and Markets Authority into the development of UCITS sector.

In the discussion paper, ESMA examines the possible measures that could be introduced to mitigate the risks that particularly complex products may pose when made available to retail investors.
ESMA announced earlier this year that it is consulting on UCITS because of the so-called retailisation of hedge funds brought about by the new investment criteria and limits introduced by UCITS III – adopted by European member states in 2001 (