AIFMD and UCITS: Revised guidelines in preparation

As part of a series of measures to strengthen investor protection, the EU Commission proposed a number of changes regarding the management of AIFs, UCITS and long-term investment funds (ELTIFs) on November 25, 2021.

Regulatory reporting is particularly affected in two respects:    

• The current AIFMD template will be replaced by a revised version.Updated regulatory technical standards (RTS) and implementing technical standards (ITS) are currently being prepared by ESMA.
• UCITS managers will have to prepare regular supervisory reports in the future. New RTS and ITS are also in the works for this purpose.

One of the focal points of the revisions is liquidity provisioning, more precisely a clearer definition of liquidity management tools (LMT).    

Once ESMA’s proposals are adopted by the EU, the revisions will come into force within 24 months (probably 2024).  

We will keep you informed in this regard and will provide the appropriate reporting solutions in due time. If you have any questions, please feel free to contact our experts at any time.