UCITS - Udkast til tekniske gennemførelsesstandarder om sanktioner og foranstaltninger i henhold til UCITS-direktivet
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.
ESMA is required to submit the draft ITS to the European Commission by 18 September 2015. ESMA did not conduct open public consultations on the draft ITS, as this would have been disproportionate in relation to their scope and impact, taking into account that the addressees of the ITS would only be NCAs and not market participants. Annex 1 recalls the legislative mandate to develop draft ITS and Annex 2 sets out the full text of the draft ITS...."