Paris, 06 January 2021
ESMA launched on 6th January a Common Supervisory Action (CSA) with national competent authorities (NCAs) on the supervision of costs and fees of UCITS across the European Union and will be conducted during 2021.
CSA’s objective is to assess the compliance of supervised entities with the relevant cost-related provisions in the UCITS framework, and the obligation of not charging investors with undue costs. In this context, NCAs would consider the supervisory briefing on the supervision of costs published on the 2nd June 2020.
Additionally, entities who provide Efficient Portfolio Management (EPM) techniques are also covered by CSA, in order to check if they comply with the different requirements set out in the UCITS framework and ESMA Guidelines on ETFs and other UCITS issues.
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