The European Securities and Markets Authority (ESMA) has published Guidelines aimed at facilitating cooperation arrangements and the exchange of information between individual national competent authorities and between those authorities and ESMA, in the application of their responsibilities...

This is an update of the guidelines originally published in 2012. The new version of the guidelines modifies the original provision on diversification of collateral received by UCITS in the context of efficient portfolio management techniques and over-the-counter financial derivative transactions.