APCIMS' response to the ESMA consultation on UCITS Exchange Traded Funds (ETFs) and structured UCITS raises concerns on:

  • the appropriate level of transparency so information is distributed without unduly obstructing market operation;
  • the cost and risk issues arising from ESMA's proposals on secondary market investors, specifically on the suggested investor warning and the proposal that investors in a UCITS ETF go straight to the fund. The response looks at broker practices and costs, and what investors have previously wanted.

(Source: APCIMS Responds on Structured UCITS)