ESMA liquidity stress testing guidelines

ESMA issued the official translations of its Guidelines on liquidity stress testing in UCITS and AIFs. They become effective on 30 September 2020. In August 2019, the CBI issued a letter reminding UCITS management companies, SMICs, AIFMs and internally managed AIFs of the importance of ongoing and effective liquidity management. Liquidity management for investment funds is a current priority on the regulatory agenda in Ireland and the rest of Europe.