Summary of AMF findings in the context of ESMA common supervisory action on liquidity risk management in UCITS

As announced by the Autorité des Marchés Financiers when presenting its supervisory priorities for 2021, the AMF took part in the Common Supervisory Action on UCITS liquidity coordinated by ESMA.  In practice, based on a methodology defined by ESMA, the AMF was able to (i) undertake a review of liquidity risk management processes in a representative sample of UCITS asset management companies and UCITS funds, (ii) assess the level of compliance of these practices with the regulatory obligations defined by the UCITS Directive and its implementing texts, and (iii) identify good and poor practices in this area.