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ESMA liquidity management tools standards and guidelines for UCITS and AIFs

European flags in front of the headquarter of European Commission in Brussels.
Photo: Christophe Licoppe/Getty Images

Eversheds Sutherland

7 min read
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Non-EU firms may be indirectly affected by the RTS and guidelines if they have subsidiaries or branches in the EU.

The European Securities and Markets Authority (ESMA) has set out a detailed framework for managers to use when selecting, activating, calibrating and monitoring liquidity management tools (LMTs), in its final draft Regulatory Technical Standards (RTS) and Guidelines.

LMTs introduced by AIFMD II require AIFMs and Management Companies

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