ESMA issues opinion on ‘undue costs’
On the basis of a consultation conducted in 2020, ESMA has issued an opinion to the European Commission regarding the protection of investors from undue costs.
The regulatory authority is concerned about a possible divergence in levels of investor protection. It stated that this could arise from regulatory arbitrage on a national level, caused by a lack of supervisory convergence.
Background
In 2020, ESMA outlined a pricing review framework for costs charged by fund managers.
Profile:
Categories: NewsRegs & ComplianceAIFMDRegulatory update
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