ESMA_QA_1104

Status: ✅ Answer Published

Link to ESMA Q&A tool: https://www.esma.europa.eu/publications-data/questions-answers/1104

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Regulatory Context

Regulation : UCITS

Level 1 Regulation: Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC

Level 2 Regulation: No information available

Level 3 Regulation: No information available

Topic: ETFs

Subject Matter: ESMA’s guidelines on ETFs and other UCITS issues - UCITS ETF label

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Question

Submission Date: 15 March 2013

In the case of umbrella UCITS, does the requirement to use the label “UCITS ETF” apply to both the umbrella level and the sub-fund level?

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ESMA Answer

Answer Date: 15-03-2013

[ESMA 34-43-392 UCITS Q&A, section 3, Q&A 2] If all the sub-funds are UCITS ETFs, the labelling requirement applies to the sub-fund level and the UCITS may decide to apply it to the umbrella level as well. However, if not all the sub-funds are UCITS ETFs, the labelling requirement only applies to the relevant sub-funds.

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This document was automatically extracted from the ESMA EMIR Q&A database.