On 4 June 2020, ESMA published guidance for regulators supervising compliance with the obligation not to charge undue costs to UCITS and AIF investors.  Although addressed to regulators, managers of UCITS and AIFs should use the guidance to ensure compliance in line with regulatory expectations, thereby avoiding the type of supervisory actions ESMA recommends be taken (e.g. regulatory request for investor compensation, reduction of fees) if undue costs are found to have been charged.

Click on the image below to read our full briefing outlining the ‘Pricing Process’ and what the ‘Next Steps’ will be.

Contributed by Nessa Joyce