Methodological and interpretative documents

Official information

CNB Opinions and Q&As

ESMA/CESR Guidelines

  • UCITS
    • ESMA Guidelines on outsourcing to cloud service providers (ESMA50-164-4285, external link)
    • Guidelines on performance fees in UCITS and certain types of AIFs (external link, pdf)
    • Guidelines on liquidity stress testing in UCITS and AIFs (external link, pdf)
    • Guidelines on ETFs and other UCITS issues - text
    • Guidelines on risk measurement and the calculation of global exposure for certain types of structured UCITS - text
    • Guidelines - Selection and presentation of performance scenarios in the Key Investor Information document (KII) for structured UCITS - text
    • CESR’s guide to clear language and layout for the Key Investor Information Document - text
    • CESR’s template for the Key Investor Information document - text
    • Guidelines - Risk Measurement and the Calculation of Global Exposure and Counterparty Risk for UCITS - text
    • Guidelines - Methodology for the calculation of the synthetic risk and reward indicator in the Key Investor Information Document - text
    • Guidelines - Methodology for the calculation of the ongoing charges figure in the Key Investor Information Document - text
    • Guidelines - Common definition of European money market funds - text
    • Guidelines - Risk management principles for UCITS - text
    • CESR's guidelines concerning eligible assets for investment by UCITS - text
    • Gudelines on repurchase and reverse repurchase agreements – recasted to Guidelines on ETFs and other UCITS issues - text
    • Guidelines - Transition from the Simplified Prospectus to the Key Investor Information document - textGuidelines important in transitional period only
  • AIFMD
    • Guidelines on Article 25 of Directive 2011/61/EU – text
    • Q&As on Application of the AIFMD - text
    • AIFMD reporting IT technical guidance (updated) – text
    • AIFMD - Reporting - XML documents - V1.1 (updated) - text
    • Guidelines on key concepts of the AIFMD - text
    • Guidelines on sound remuneration policies under the AIFMD - text
    • Final report -  Guidelines on reporting obligations under Articles 3(3)(d) and 24(1), (2) and (4) of the AIFMD (revised) - text
    • Guidelines on the model MoU concerning consultation, cooperation and the exchange of information related to the supervision of AIFMD entities - text
  • MMF
    • Guidelines on the reporting to competent authorities under Article 37 of the MMF – text
    • Guidelines on stress test scenarios under the MMF Regulation – text
    • Guidelines on stress tests scenarios under Article 28 of the MMF Regulation – text

ESMA - Q&As (questions & answers), Opinions

  • UCITS
    • Q&As on Risk Measurement and Calculation of Global Exposure and Counterparty Risk for UCITS - text
    • Q&As on ESMA's guidelines on ETFs and other UCITS issues - text
    • Opinion on Article 50 (2) (a) of Directive 2009/65/EC - text
    • Q&As on Key Investor Information Document for UCITS - text
    • Q&As on Risk Measurement and Calculation of Global Exposure and Conterparty Risk for UCITS - text
    • Q&As Notification of UCITS and exchange of information between competent authorities - text
    • Q&As - A Common Definition of European Money Market Funds - updated February 2012 - text
    • Opinion on Practical arrangements for the late transposition of the AIFMD - text
  • AIFMD
    • Opinion on draft regulatory technical standards on types of AIFMs under Article 4(4) of Directive 2011/61/EU - text
    • Practical arrangements for the late transposition of the AIFMD -  text

EU Commission - Q&As (questions & answers)

  • AIFMD
    • The EU Commission has published the following AIFMD Q&Aa - text. The EU Commission does not accept other questions any longer.
      • Passport issues (Art 43)
      • Passport issues
      • Passport issues
      • Responsibility of Member States' competent authorities (Art. 49)
      • Passport issues (Art. 36)
      • Responsibility of Member States' competent authorities (Art. 33)
      • Responsibility of Member States' competent authorities (Art. 24)
      • Cooperation between Member States' competent authorities (Art. 32 (5))
      • Cooperation between Member States' competent authorities (Art. 45)
      • Cooperation between Member States' competent authorities (Art. 39)
      • Issues related to master AIFs and feeder AIFs (Art. 35)
      • Issues related to master AIFs and feeder AIFs (Art. 36 (1))
      • Issues related to Article 37 AIFMD (Art. 37 (5))
      • Issues related to Article 37 AIFMD (Art. 37)
      • Issues related to Article 37 AIFMD

Other materials