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ARTICLE · 15 APRIL 2016

ESMA Discussion Paper On UCITS Share Classes - April 2016

Dillon Eustace
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On 6th April, 2016 the European Securities and Markets Authority published a discussion paper on UCITS Share Classes, following on from its earlier consultation on different share classes of UCITS (December 2014).

European UnionFinance and Banking
Dillon Eustace
Dillon Eustace
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Background

On 6th April, 2016 the European Securities and Markets Authority ("ESMA") published a discussion paper on UCITS Share Classes (the "Discussion Paper"), following on from its earlier consultation on different share classes of UCITS (December 2014).

ESMA is now proposing the development of a common framework throughout the EU for the operation of share classes within UCITS based on a series of high level principles to be followed when setting up different share classes together with a set of supporting operational principles.

ESMA is seeking detailed feedback (by 6th June, 2016) on whether and how share classes can actually work under the principles it has outlined.

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