ESMA

Regulation

William Yonge, partner at Morgan Lewis & Bockius, examines the regulatory and compensation issues relating to ESMA's consultation on new guidelines for how alternative investment fund managers should be compensated.

Moody's has said new ESMA guidelines on ETF stock lending are "credit negative" for asset managers and will hit profitability - but will also spark an uptick in investor interest.

ETF managers are set to lose out on profits generated by securities lending, under new European regulations published today.

BlackRock has called on the European markets authority to improve the way exchange-traded products are labelled, including identifying synthetics, and increase transparency over conflicts of interest.

ETFs

Fund launches reached a decade low last year as groups held back new products in the face of market volatility.