European Securities and Markets Authority launches framework on valuation of UCITS and open-ended AIFs

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, is launching a Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on the valuation of UCITS and open-ended Alternative Investment Funds (AIFs) across the EU.

The CSA aims to assess compliance of supervised entities with the relevant valuation-related provisions in the UCITS and AIFMD frameworks, in particular the valuation of less liquid assets, and will be conducted throughout 2022.

 

Scope applicable to authorised managers

UCITS Open-ended AIF investing in less liquid assets such as: ·         unlisted equities, ·         unrated bonds, ·         corporate debt, ·         real estate, ·         high yield bonds, ·         emerging markets, ·         listed equities that are not actively traded, bank loans.

Global Compliance

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