CBI Markets Update focuses on Fund Management Company Directors who act as a Designated Person
The CBI published issue 8 of its Markets Update on 15 June 2018. The key development was a CBI notice regarding Fund Management Company Directors who act as a Designated Person in the context of the Central Bank's Fitness & Probity Regime.
ESMA supervisors' workshop centres on closet indexing
ESMA held a supervisors’ workshop for National Competent Authorities on 27 June to promote supervisory convergence in the supervision of closet indexing. Closet indexing is a practice whereby asset managers claim to manage their funds in an active manner whilst in fact staying very close to a benchmark and charging management fees in line with actively managed funds. The workshop follows ESMA’s earlier work on potential closet index tracking.