On 8 July 2009, the Committee of European Securities Regulators published its draft advice to the European Commission on the format and content of key investor information disclosures for UCITS.  

At the time at which it published a consultation paper setting out its draft advice, CESR had not yet finalised some elements of the proposed methodology. In particular, the proposal still needed to be fine-tuned with respect to:  

  • The definition of upper and lower bounds for the volatility intervals.
  • The detailed explanation of the risk classification process for structured funds.

CESR has now published an addendum which complements the consultation paper by including an explanation of CESR’s proposals on the above issues.  

View CESR publishes an addendum to the consultation paper on the format and content of key information document disclosures for UCITS, 4 July 2009