Guidelines On ETFs And Other UCITS Issues - Update

On August 1st 2014 (The "Publication Date"), the European Securities and Markets Authority ("ESMA") published the revised guidelines on ETFs and other UCITs issues (including translations thereof). Please see our dedicated article for information on the content of the revised guidelines.

The new provisions on diversification of collateral received by UCITS in the context of efficient portfolio management techniques and over-the-counter financial derivative transactions shall therefore apply from October 1st 2014.

UCITS that exist before the Publication Date have 12 months to comply with the collateralisation and disclosure rules.

The CSSF on...