ESMA Regulation - Consultation Paper - ESMA’s guidelines on ETFs and other UCITS issues - January 30, 2012

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In the summer of 2011, ESMA published a discussion paper on policy orientations on guidelines for UCITS Exchange-Traded Funds and Structured UCITS on 22 July 2011 (ESMA/2011/220). This consultation paper represents the next stage in the development of ESMA guidelines in this area. This consultation paper sets out ESMA’s proposals for guidelines on UCITS ETFs, index-tracking UCITS, efficient portfolio management techniques, total return swaps and strategy indices for UCITS. The formal proposals for guidelines are contained in the boxes in Sections II to VIII of the paper, while further commentary and explanation is provided in the explanatory text.

The following topics are covered in this pass:

  • Index-tracking UCITS
  • Index-tracking leveraged UCITS
  • UCITS Exchange-Traded Funds
  • Efficient portfolio management techniques
  • Total Return Swaps
  • Strategy indices
  • Transitional provisions


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