EU Tells Managers To Test Funds’ Resilience To Redemptions
Law360, London (September 2, 2019, 2:12 PM BST) -- Europe’s fund managers were ordered Monday to test whether their investment vehicles can withstand the sort of payout requests that caused a prominent stock picker to suspend his fund in June.
The European Securities and Markets Authority set out guidance that will help managers to gauge the strength of funds that are subject to European Union rules, known as UCITS, as well as alternative investment funds. This will allow managers to safeguard their offerings from liquidity risks as well as preventing any threat to the wider EU market, the watchdog said.
ESMA told managers to test their funds against stressful scenarios,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!