SWE FI ESMA Fund Naming Guidelines

On Oct. 23, SWE FI informed ESMA of its compliance with guidelines.

  • SWE FI announced compliance of ESMA guidelines on fund names with ESG concepts.
  • Follows ESMA Aug. 2024 issued translations of fund naming guidelines, see #153820.
  • Document dated Oct. 23, 2024, received from SWE FI Oct. 24, summarized Oct. 27.
  • EU ESMA Guidelines
  • EU ESMA published a final report with guidance on fund names that contain ESG or sustainability-related concepts (ESMA34-472-440) on May 14, 2024.
  • Swedish translation of the guidelines (ESMA34-1592494965-657) issued in Aug. 2024.
  • SWE FI's view is that guidelines from EU ESMA addressed to competent authorities or financial market participants are equivalent to Swedish general advice.
  • Reg 1095/2010 establishing ESMA requires competent authorities or financial market participants to seek to comply with these guidelines directly by all available means.
  • Effectiveness
  • The guidelines enter into force on Nov. 21, 2024 which means that managers of funds created after this date should apply the guidelines immediately to those funds.
  • Managers of existing funds should apply the guidelines six months from the date of entry into force of the guidelines, i.e. May 21, 2025.

Regulators SWE FI
Entity Types HF; IA; Inv Co
Reference PR, 10/23/2024; Gd ESMA34-2592494965-657; Gd ESMA34-472-440; AIFMD Dir 2011/61; UCITS Dir 2009/65; Reg 2019/1156; Reg 1095/2010; ESG
Functions Compliance; Environment; Legal; Product Design; Reporting; Social
Countries Sweden
Category
State
Products Commodities; Fund Mgt; Hedge Funds; Mutual Funds
Regions EMEA
Rule Type Final
Rule Date 10/23/2024
Effective Date 11/21/2024
Rule Id 230957
Linked to Rule :153820
Reg. Last Update 10/23/2024
Report Section EU

Last substantive update on 10/28/2024