Pan-European regulator ESMA has set out its plans to synchronise the way performance fees charged by UCITS and other retail funds in Europe are regulated across the bloc.
The new standards, which would take shape by the end of this year, set out common criteria for EU national regulators on issues like fee calculation methods, consistency of fee model with fund objectives, the period over which a fee is charged, and disclosure. Irish regulator scolds asset managers for UCITS fee calculation failures In a consultation paper published on Tuesday (16 July), the regulator explained there are currently "different practices across National Competent Authorities regarding performance fee structures as well as on the circumstances in which performance fees can...
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