AIFMD II update - ESMA publishes implementing rules on liquidity management tools for funds

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On 15 April 2025, ESMA published draft regulatory standards on liquidity management tools under the AIFMD and UCITS Directive (“RTS”) and its final report on guidelines on liquidity management tools of UCITS and open-ended AIFs (“Guidelines”). Both documents have been developed based on respective mandates resulting from Directive (EU) 2024/927 amending the AIFMD and the UCITSD (“AIFMD II”).

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Claudia Hoffmann
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Dr. Daniel Krauspenhaar
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