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03 April 2012

ESMA publishes the responses received to the Consultation on ESMA guidelines for the regulatory framework for ETFs and other UCITS issues


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The proposals cover both synthetic and physical UCITS ETFs, and detail the obligations to come for UCITS ETFs, index-tracking UCITS, efficient portfolio management techniques, total return swaps and strategy indices for UCITS.


ESMA’s proposals go wider than ETFs and cover such areas as the use of total return swaps by any UCITS, for which ESMA envisages additional obligations with respect to the collateral to be provided, or UCITS investing in strategy indices, where the requirements on eligibility of such indices have been tightened. The proposals also include placing an obligation on UCITS ETFs to use an identifier, and facilitating the ability of investors to redeem their shares, whether in the secondary market or directly with the ETF provider.

Press release



© ESMA


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