ESMA · ESMA_QA_1177 Answer Published
KIID Transitional provisions
- Regulation
- Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC
- Topic
- Efficient portfolio management (EPM) techniques
- Submitted
- 2013-03-15
- Answered
- 2013-03-15
Question
Are EPM techniques concluded by UCITS before the date of application of the guidelines subject to transitional provisions?
Answer
[ESMA 34-43-392 UCITS Q&A, section 3, Q&A 8c] UCITS that exist before the date of application of the guidelines should amend the agreements governing EPM techniques in accordance with Sections X and XII of the guidelines as soon as possible. At the latest, 12 months after the date of application of the guidelines any EPM techniques should comply with the provisions of Section X and XII of the guidelines.
This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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