UCITS - Draft Implementing Technical Standards on penalties and measures under Directive 2009/65/EC (UCITS Directive)
Article 99e(3) of the UCITS Directive, as introduced by the UCITS V Directive requires ESMA to develop draft implementing technical standards (ITS) concerning the procedures and forms for submitting information regarding penalties and measures as referred to in Article 99e of the UCITS Directive. Article 99e of the UCITS Directive provides for two types of submission of information, which are as follows:
- National competent authorities (NCAs) shall provide ESMA annually with aggregated information regarding all penalties and measures imposed in accordance with Article 99.
- Administrative penalties or measures that are disclosed to the public by NCAs shall simultaneously be reported to ESMA.