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ESMA launches call for evidence on UCITS eligible assets (including cat bonds)

The European Securities & Markets Authority (ESMA) has now launched a formal call for evidence to support a review of the Undertakings for Collective Investment in Transferable Securities (UCITS) Eligible Assets Directive (EAD), including what assets should be eligible, with catastrophe bonds one class of assets named.

It comes as little surprise, given the review process began almost a year ago and we first discussed European regulator’s desire to look at cat bonds through the lens of eligibility for UCITS fund strategies well over a year ago.

When we last wrote about this topic, back in June 2023, we reported that the European Commission had directed financial regulator the European Securities & Markets Authority (ESMA) to study eligible assets for UCITS investment fund strategies, to ensure their suitability, with catastrophe bonds one asset class explicitly mentioned.


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