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ESMA tells market participants to continue preparations for the end of the UK transition period
On 1 January 2021, once the UK’s transition period ends, financial market participants whose activity might be impacted should have fully implemented their preparatory measures to mitigate any risks stemming from the end of the transition period. All entities should also have provided appropriate information to their clients on any resulting consequences. ESMA’s previously published […]
ESMA promotes consistent application of prospectus disclosure requirements
The Guidelines provide guidance to financial market participants regarding the disclosure of financial and non-financial information in the prospectus. The aim of the Guidelines is to ensure that market participants have a uniform understanding of the relevant disclosure required in the various annexes included in the Commission Delegated Regulation (EU) 2019/980. The Guidelines will help […]
ESMA study finds high impact of costs on performance, especially for active equity funds
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has carried out a study of the performance of active equity funds as compared to passive equity funds, ETFs and relevant benchmarks. The study, included in the latest Trends, Risks and Vulnerabilities (TRV) report finds that actively managed funds have in past years […]