The Asset Management and Investors Council (AMIC) of ICMA responds to ESMA’s consultation on the characteristics and guidelines on the selection and calibration of liquidity management tools (LMTs) for AIFMD and UCITS
8 October 2024 AMIC welcomes the opportunity to provide feedback on ESMA’s proposed regulatory technical standards (RTS) on the characteristics of liquidity management tools (LMTs), as well as the Guidelines on the selection and calibration of LMTs for AIFMD and UCITS.
These measures are critical to ensuring the success of the agreement reached at Level 1 of the revised AIFMD and UCITS Directives which entered into force on 15 April 2024.
Most importantly, it is critical that these measures support and respect the agreement that was reached at level 1 to ensure that fund managers retain the necessary flexibility to act as fiduciaries, in the best interest of investors, at all times.
Read the full consultation response here
