The European Securities and Markets Authority (ESMA) has published updated questions and answers documents (Q&As) on the application of the Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS).
The AIFMD Q&As include three new questions and answers on the reporting requirements for:
- loans purchased on the secondary market;
- conversion of the total value of assets under management; and
- currency of the net asset value.
The UCITS Q&As include two new questions and answers on:
- issuer concentration; and
- group links, independence and cooling-off periods.