Summary of SPOT inspections regarding the implementation in France of the ESMA-coordinated supervisory exercise on the costs and fees of UCITS marketed to retail clients
As announced by the Autorité des Marchés Financiers (AMF) when it presented its supervisory priorities for 2021, the AMF took part in the joint supervisory exercise coordinated by ESMA on the costs and fees of UCITS marketed to retail clients (referred to in this document as retail UCITS). Specifically, based on a methodology defined by ESMA, the AMF (i) carried out a review, on a representative sample of asset management companies (AMCs) and UCITS, of practices for defining, managing and controlling the costs and fees of retail UCITS; (ii) assessed the extent to which these practices comply with the regulatory requirements set out in the UCITS IV Directive and its implementing regulations, which were the basis for ESMA’s supervisory briefing published on 4 June 2020; and (iii) identified good and poor practices in this area.
On the same topic
Head of publications: The Executive Director of AMF Communication Directorate. Contact: Communication Directorate – Autorité des marches financiers 17 place de la Bourse – 75082 Paris cedex 02