A couple of ‘Q&A’ style papers on UCITS related matters have been published by ESMA.
The first one covers risk measurement and the calculation of global exposure and counterparty risk and is a modest 6 pages in total (please copy and paste http://www.esma.europa.eu/system/files/2012-429.pdf into your web browser if you experience problems with the link provided). The more meaty CESR guidelines published in 2010 on the topic can be found using the link provided (or use http://www.esma.europa.eu/system/files/10_788.pdf).
The second Q&A is aimed at competent authorities with a view to promoting “common supervisory approaches and practices in the application of the UCITS Directive and its implementing measures”. Topics include the necessary notification of new investment compartments (a.k.a. sub-fund) and the exchange of information between competent authorities when establishing a branch of a UCITS management company. (Use http://www.esma.europa.eu/system/files/2012-428.pdf if you cannot access the paper using the link on the left).
