The European Securities and Markets Authority (ESMA) and national regulators across the EU have initiated a joint review of retail fund management companies and alternative investment managers.
The review, which will be carried out throughout the year, will assess whether internal audit functions have the necessary staffing, authority, knowledge, and expertise to fulfill their responsibilities. It aims to ensure compliance with regulatory requirements and strengthen oversight in the sector.
ECIIA will closely follow this initiative through its Banking Committee.
Read more: ESMA Announcement