ESMA seeks feedback on the guidelines for liquidity management of AIFMD and UCITS

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The European Securities and Markets Authority (ESMA) is seeking feedback on draft guidelines and technical standards. These are related to the revised Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for the Collective Investment in Transferable Securities Directive (UCITS).
Both directives aim to reduce financial stability risks and promote unified liquidity risk management in the investment fund sector.
LMT Calibration Guidelines
The regulatory technical standards draft defines the characteristics of liquidity management tools. This includes calculation methods and activation mechanisms. ESMA has also published draft LMT guidelines for UCITS and open-ended AIFs.
These guidelines provide instructions on how managers should select and calibrate LMTs. This selection should take into account their investment strategies, liquidity profiles, and redemption policies.
“The revised AIFMD and UCITS directives introduce long-awaited provisions on the availability and use of liquidity management tools. The European Securities and Markets Authority (ESMA) is an independent EU agency responsible for the safety, security, and stability of the EU financial system, and for protecting the public. ESMA, the European Securities Sector Regulatory Authority, was established on January 1, 2011. The European Securities and Markets Authority (ESMA) is an independent EU agency based in Paris. It aims to contribute to the effectiveness and stability of ESMA’s work. ESMA is an independent EU agency responsible for the safety, security, and stability of the EU financial system, and for protecting the public. ESMA, the European Securities Sector Regulatory Authority, was established on January 1, 2011. The European Securities and Markets Authority (ESMA) is an independent EU agency based in Paris. It aims to contribute to the effectiveness and stability of ESMA’s work. ESMA Chair Verena Ross stated, “This consultation period is about how to apply these provisions in practice.”
“These proposed new rules are in line with the latest global standards provided by FSB and IOSCO and will help strengthen the EU’s regulatory regime for investment funds.”
Earlier, ESMA released its second Cryptocurrency Assets Regulatory Market Final Report, which detailed eight draft technical standards as reported by Finance Magnates. These measures aim to enhance transparency for retail investors and clarify disclosure and recordkeeping requirements for providers. The standards also introduce data protocols to assist national authorities in supervision.