ESMA proposals are unwarranted says IMA

In its response to ESMA proposals the IMA has questioned the rationale for singling out certain types of Ucits products while excluding others, such as non-Ucits exchange-traded products. "We agree with ESMA's proposed approach to improve disclosures and to provide clearer information for investors via the new Key Investor Information Document. For UK-authorised funds, such disclosures are already required. We urge national regulators to adopt consistent implementation and to enforce the Ucits rules," said Julie Patterson, IMA director. Patterson added: "Ucits are already subject to d...