ESMA has published a final report on the technical standards for the cross-border activities of AIFs and UCITS, outlining the information that needs to be provided and the templates that fund managers need to use when informing the relevant authorities.
The regulatory technical standards (RTS) that ESMA has released are in regard to the information that management companies and AIFMs must give to the regulator before carrying out activities in EU member states.
The implementing technical standards (ITS) provide the templates and communication procedures that management companies, UCITS and AIFMs must use to submit this information in a standardised format.
ESMA has submitted the RTS and ITS to the European Commission, with the intention of implementation within the next three months in the form of a commission delegated regulation and a commission implementing regulation. These will then be subject to the non-objection of the European Parliament and Council.
