ESMA report on UCITS costs and fees

On 31 May 2022, ESMA published its report on the Common Supervisory Action ("CSA") on costs and fees of UCITS that was carried out with national competent authorities ("NCAs") (including the CSSF) in 2021.

This report sets out ESMA's analysis and conclusions on the CSA and presents ESMA’s views on the various findings, including on the process of the setting and the reviewing of fees, the notion of undue costs, the issues stemming from related party transactions and EPM techniques, as well as the follow-up actions envisaged by NCAs and the main lessons learnt.

This report is therefore important not only for NCAs but also for the funds and their managers.

For more information on this topic, see the article "ESMA report on UCITS costs and fees: Key points" on our website.