ESMA: 2025 CSA on compliance and internal audit functions of fund managers
11 May 2026
Germany
1 min read
ESMA has published the results of its 2025 common supervisory action on the compliance and internal audit functions of fund managers, carried out in with the participation of all EU and EEA national supervisors. It found that most fund managers comply with key requirements under the AIFMD and UCITS framework, but notes concerns over governance weaknesses, particularly with regard to the independence of control functions, the quality and implementation of internal policies, and oversight by senior management and boards.