A number of high-profile fund suspensions last year, coupled with the forthcoming European Securities Market Authority (ESMA) Liquidity Stress Testing Guidelines set for September 2020, were strong indicators that the thorny issue of fund liquidity would be high on European … Continue reading Fund Liquidity Continues to Define European Regulatory Agenda
We are still at that time of the year where people make and break resolutions for the immediate future. Regulators are no different. On January 9, the European Securities Market Authority (ESMA) laid out its strategy document for the next … Continue reading The Big Reveal: Three Takeaways from ESMA’s Future Plans
Regulators on both sides of the Atlantic are tightening liquidity rules for investment funds with the primary focus on whether or not fund portfolios can keep their promise of daily liquidity to their fund investors at all times. We have … Continue reading Top Down, Bottom Up: The Topsy-Turvy World of Fund Liquidity
Regulatory scrutiny of mutual fund liquidity has been an ongoing area of focus for several years now. Regulators have already put exchange traded funds (ETFs) and money market funds (MMFs) under their microscope, but they are now intensifying that scrutiny … Continue reading New ESMA Fund Stress Tests Aim to Soothe Investor Liquidity Concerns
Renowned US economist Milton Friedman once famously declared that public companies exist solely to serve their shareholders. Last week, Friedman may have been rolling in his grave. The CEOs of the 192 largest public corporations in the US delivered a … Continue reading Short-Termism: Regulators Assess Investment Horizons
Assets invested in UCITS funds hit a record high in June of this year, pushing past the €10 trillion mark across more than 90 countries. Despite their continued growth, UCITS have faced several regulatory headwinds including scrutiny on liquidity issues, … Continue reading ESMA Performance Fee Review: Recalibration of UCITS’ Well-Oiled Machine