European regulator ESMA directed to review UCITS funds framework
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European regulator ESMA directed to review UCITS funds framework

Fiona Robertson
21 June 2023
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Financial market design concept

The European Commission has requested the European Securities and Markets Authority (ESMA) conduct a broad review of UCITS funds, impacting a popular part of the European cat bond market.

In a letter published on ESMA’s website earlier this week, the European Commission said that it was important to take stock of evolving market practice over the 16 years since a 2007 directive on UCITS-eligible assets, to ensure that...

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