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ARTICLE · 25 APRIL 2013

Summary Of ESMA’s Q&A On Its Guidelines On Etfs And Other UCITS Issues

Dillon Eustace
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The European Securities and Markets Authority has recently issued a Q&A document to give further clarity to certain aspects of its guideline document published on December 18th, 2012 in relation to ETFs and other UCITS issues.

IrelandCorporate/Commercial Law
Grace O'Conner
Grace O'Conner
Benedicte O'Connor
Benedicte O'Connor
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On March 15th, 2013 the European Securities and Markets Authority (ESMA) issued a Q&A document to give further clarity to certain aspects of its guideline document published on December 18th, 2012 in relation to ETFs and other UCITS issues (the "Guidelines"). The Guidelines became effective on February 18th, 2013.

The Q&A document provided clarity mainly on the aspects of the Sections of the Guidelines specified below.

UCITS ETF Label (Section III)

Application at umbrella/sub-fund level - in the case of an umbrella UCITS, the 'UCITS ETF' labeling requirement is applicable to all subfunds which are UCITS ETFs and the UCITS may also apply it at the umbrella level. The requirement does not apply to sub-funds which are not UCITS ETFs.

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