Benchmarks related obligations and disclosures for UCITS
Objectives
The objectives are to provide participants with an overview of the obligations applicable to UCITS under: (i) the EU Benchmarks Regulation; (ii) the EU KIIDs Regulation, as interpreted by section II of the European Securities and Markets Authority’s (ESMA) Questions and Answers on the application of the UCITS Directive (ESMA UCITS Q&A); and (iii) the ESMA Guidelines on performance fees in UCITS and certain types of AIFs.
Content
a) Benchmarks Regulation:
- temporal and geographical scope
- key concepts used by the regulation including the definition of a benchmark and the various types of use with a focus on border line cases
- obligations applicable to UCITS management companies/UCITS boards
- current developments in the area of benchmarks, including the transition away from Interbank Offered Rates
- case studies linked to the completion of the CSSF’s Benchmarks Questionnaire
b) KIIDs Regulation (as interpreted by the ESMA UCITS Q&A):
- interplay with the Benchmarks Regulation
- notion of a benchmark index
- scope of the disclosure rules/notion of a fund managed in reference to a benchmark index
- consistency between various marketing materials and timing for updates
- case studies on the approach to the disclosure of a benchmark for various categories of investment strategies
c) Guidelines on performance fees in UCITS and certain types of AIFs:
- interplay with the Benchmarks Regulation and the KIIDs Regulation
- notion of a reference benchmark index
- obligations in relation to the use of a reference benchmark index
Speakers
Our speakers belong to both our specialised and complementary teams and as such, cover all legal, regulatory, taxation and advisory aspects of doing business in Luxembourg. We invite you to check our training agenda where the speakers are listed on each training session.
Target Group
Directors of UCITS funds, compliance officers within UCITS management companies and sponsors/distributors of UCITS products.
Duration
3 hours.
Language
English, French.
For any information, please contact us by e-mail institute@arendt.com