ESMA has issued Guidelines on Exchange-Traded Funds (ETFs) and other UCITS issues and has opened a consultation on the appropriate treatment of repo and reverse repo arrangements in the context of the guidelines on ETFs and other UCITS issues. The guidelines will apply to national securities markets regulators and UCITS management companies (this will include self-managed investment companies or SMICs also). Packaged retail investment products (PRIPs).
The EU Commission has issued a draft regulation on Packaged Retail Investment Products (PRIPs). PRIPS include investment funds, insurance-based investment products, retail structured securities (such as certificates and notes), structured term deposits and private pensions. The regulation (drawing on the UCITS KIID template) will oblige every manufacturer of PRIPs (e.g. investment fund managers, insurers, banks) to produce a Key Information Document (KID, similar to the UCITS KIID) for each PRIP.