On Oct. 21, IRE CB issued intention on ESG fund naming guidelines.
IRE CB issued a notice of intention re application of ESMA Guidelines on funds’ names using ESG or sustainability-related terms which EU ESMA, issued on Aug. 21, 2024.
Follows ESMA Aug. 2024 issued translations of fund naming guidelines, see #153820.
Notice of Intention
Guidelines apply to competent authorities, undertakings for collective investment in transferable securities (UCITS) management companies, UCITS which have not designated a UCITS management co, alternative investment fund (AIF) managers.
Internally managed AIFs, European venture capital fund (EuVECA) managers, European social entrepreneurship fund (EuSEF) managers, European long-term investment funds (ELTIF) managers and money market fund (MMF) managers.
They address the obligation to conduct business honestly and fairly, as well as ensuring that all information in marketing communications is fair, clear, and not misleading.
Next Steps
IRE CB will consult on incorporation of related provisions in UCITS regs, AIF rulebook.
In the interim, IRE CE expects full compliance with the guidelines from Nov. 21, 2024.
Regulators
IRE CB
Entity Types
HF; IA; Inv Co
Reference
Nt, PR iss 9, 10/21/2024; Gd ESMA34-2592494965-657; AIFMD Dir 2011/61; UCITS Dir 2009/65; Reg 2019/1156; ESG
